Richest People In Ireland 2011 - Richest Irish

Forbes' Five Richest Irish

The 300 richest Irish people are worth close to €50billion, with nine individuals or families having a net worth of over €1bn.

Irish people now own Premiership football teams, paintings by Monet, Modigliani and Sir Joshua Reynolds, superyachts, world famous buildings, Bordeaux vineyards and Cheltenham champions.

Here's the Forbes 2011 Richest People In Ireland:

Meet Ireland’s richest man – you probably never heard of him before

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5 1.Pallonji Mistry

Net worth: $8.8 billion (€6 bn)

- As of March 2011Source: Construction, inherited and growing

The richest  person in Ireland is someone few people have heard about or even seen.

Palolonji Shapoorji Mistry owns 18.5% stake in Tata Sons, India’s largest pri vate conglomerate, which has interests in real estate, hotels, cars, heavy industry, tea — in short, everything. The 81-year-old has seen his wealth grow massively with the rebound in asset values over the last years.While much of his business is in India and the Far East, in 2008 Tata bought Jaguar and Rover for €2.5billion.

Originally from India,Mistry became an Irish citizen in 2003 “on the basis of his marriage to an Irish-born ,” Pat (Patsy) Perin Dubash.He gave up his Indian Citizenship as the Indian Government currently does not allow dual citizenship,though he remains resident in Mumbai. Mistry’s two sons, Cyrus and Shapoor, have automatically become Irish citizens because of their mother’s birth place. He owns a stake in the Taj Mahal Hotel which was attacked by Islamic terrorists in 2008.

Mistry is an extraordinarilly low-profile billionaire, never giving interviews and rarely being seen out in public. Within the extended Tata Group, he is described as the “Phantom of Bombay House” Mistry does not hold any Irish directorships and there are no records of him owning land in the Land Registry.However he may own assets through various nominee companies.

4 2.Denis O'Brien

Net worth: $4.2 billion - (€2.9 bn)

- As of March 2011Source: Telecom, self-made

Telecoms entrepreneur Denis O'Brien netted close to €250m when selling Esat Telecom to BT for over €2bn at the height of the dotcom boom. He re-invested it in Irish technology with mixed results. O'Brien's big result was to replicate the success of Esat Digiphone in the Caribbean and Pacific with his fast-growing operation. O'Brien also owns stakes in BoI, INM and other firms including One51 and oil exploration outfit Sterling Energy.

He has property interests in Dublin as well as a European radio operation that includes Today FM and Newstalk in Ireland. The UCD graduate also owns PGA European Tour golf courses and the €50m valued Quinta da Lago resort in Portugal. The tycoon founded aircraft leasing firm Aergo, which operates 103 aircraft. O’Brien has been extraordinarily active in Haiti since the devastating earthquake struck earlier this year. The 52-year-old also owns a Gulfstream 550 private jet and contributes half the salary of Giovanni Trappatoni, Ireland’s football manager.

3 3.John Dorrance

Net worth: $2.4 billion - (€1.6 bn) - As of March 2011Source: Campbell Soup, inherited

One of the heirs to the Heinz fortunes, Dorrance is thought to live a very low profile life with his Finnish wife in South County Dublin, having sold most of his 10.5% stake in the family soup business for $1.5bn.He Renounced U.S. citizenship, moved to Ireland before the sale, presumably to avoid capital gains taxes. He joined movement to legalize game ranching in Wyoming, fox hunting in Great Britain.

2 4.Martin Naughton

Net worth: $1.9 billion - (€1.3 bn)

- As of March 2011Source: Heating Equipment, self-made

Press-shy aeronautical engineer built world's largest manufacturer of electrical heating appliances (stoves, electrical fireplaces, space heaters, decorative fires, water heaters). Founded Glen Electric in 1973; acquired Dimplex four years later. Became sole owner of Glen Dimplex in 2003. Estimated sales in 2010: $1.87 billion. Trustee emeritus at University of Notre Dame in Indiana.

1 5.Dermot Desmond

Net worth: $1.6 billion - (€1.1 bn) - As of March 2011Source: Finance, self-made

Desmond made his first fortune in stockbroking when he built up NCB into a heavyweight on the Irish market. Having sold out, he began his legendary stock market punts, making hundreds of millions from the likes of Baltimore Technologies, Golden Vale and Greencore.

Desmond, who splits his time between Dublin, Gibraltar and Barbados, landed his biggest score when he sold London City Airport for over €1bn in 2006. He'd bought the airport for less than€30m in the early 1990s.

Apart from Celtic Football Club, Desmond also owns international betting exchange Betdaq, online education outfit Intuition, mapping software company eSpatial. Also holds stake in Barbados' Sandy Lane Hotel. Known as The Kaiser for his distinctive gnarly mustache.

Source: Forbes 2011 Billionaire list

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