Rich List: Limerick businessman JP McManus increases fortune by €77m.
BUSINESSMAN JP McManus increased his personal wealth by almost €80 million last year, according to the latest Sunday Times Rich List.
The list, which has been published this Sunday, estimates the businessman and his family are now worth €1.156 billion.
One of the main reasons for the increase has been attributed to the €175m profit which was achieved on the €1bn sale, in 2016, of Vendome Saint-Honore, a block close to the Ritz hotel in Paris.
Former Castletroy College Students, John and Patrick Collision also feature high up the list with each said to be worth around €1.2 billion.
It is understood they have a combined 25% share in the online payments business Stripe, making them the world’s youngest self-made billionaires.
“The success of the Collison brothers is perhaps the most striking feature of the Munster Rich List and indeed any analysis of the richest under 30 anywhere in the world. The Limerick pair are still in their 20s but already second in Munster and in fourth place overall in the Irish Rich List. Their success shows the ever-green value of having a great idea at the right time, launching their online payment technology just as the internet was expanding exponential,” said Colm Murphy, compiler of The Sunday Times Irish Rich List.
Courtesy Limerick Leader.