Source of Wealth:Oil services
Suffolk-based RP Valves made £4.8m profit on £26.6m sales in 2009-10. Palmer, 43, started the business in 1994 with a £6,000 redundancy payment.He owns all the business, supplying valves for the oil, gas and petrochemical industries. Adding in some of the highest paid directors’ £5.2m salary to the bottom line takes the profit to £10m. With £30.5m assets, the company is worth £90m.Other wealth adds £20m.
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