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The top two slots in this years Sunday Times NI Rich List are people connected to two Newry businesses. Lady Ballyedmond and family who own Norbrook take first place in the list while Martin Naughton and family owners of Glen Dimplex take the second spot.
Norbrook Laboratories was founded in Newry in 1969 by Lord Ballyedmond while Glen Dimplex began with the establishment of Glen Electric in Newry in 1973.
Lady Ballyedmond and family, have climbed from second to first place on the list with a £914 million worth, despite their wealth falling by £136 million from last year. Martin Naughton and family take second spot with a £850m wealth.
The figures appear in this year’s edition of The Sunday Times Rich List, published today online at www.thetimes.co.uk and in the print edition of the newspaper on Sunday, May 19.
Stephen Fitzpatrick the co-founder of Ovo Energy, fell two places to third this year, with his wealth of £834 million - down from £1.378 billion last year. In fourth place this year is Robert and William Barnett and family with a worth of £645m up £120m from 2023.
Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away."
“Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy."
The 76-page special edition of The Sunday Times Magazine reveals the largest fall in the billionaire count in the guide’s 36-year history, from a peak of 177 in 2022 to 165 this year. This year’s list of 350 individuals and families together hold combined wealth of £795.361 billion — a sum larger than the annual GDP of Poland. Sir Elton John, Lord Lloyd-Webber and David and Victoria Beckham all appear in the annual survey. The minimum entry for the list of 350 this year is £350 million.
Check out the Rich List at www.thetimes.co.uk
