herald

Friday 28 April 2017

Hair tycoon and Dragon among this year's Rich List newbies

Chanelle McCoy is on the list
Chanelle McCoy is on the list

the majority of the 300 people on Ireland's Rich List are from the worlds of tech, pharmaceuticals and property.

It has come as a surprise, therefore, that the highest-profile new entrant made his fortune from hair supplements.

Galway businessman James Murphy, who is worth €120m, owned around 80pc of supplements company Viviscal, which was sold last year for €150m.

Viviscal sales soared following high-profile backing from A-list celebrities, including Reese Witherspoon, Minnie Driver and Gwyneth Paltrow.

Its products are sold in 25,000 stores throughout the US.

Another new entrant to this year's list is Dragon's Den star Chanelle McCoy.

The RTE Dragon and her father Michael Burke's veterinary drugs manufacturing business has sales of more than €100m and ambitious growth plans for the US.

The Collison brothers, John (26) and Patrick (28), are eighth in the list.

Fortune

The Limerick siblings have seen their fortune increase by €720m in the past year, bringing their total worth to €2.1bn.

They have made their money from micro-payments company Stripe, which was valued last year at €9bn.

The Sunday Independent Rich List shows Indian businessman Pallonji Mistry and his family at the top, with their fortune valued at €15.4bn.

Mr Mistry gave up his Indian passport and became an Irish citizen in 2003 on the basis of his marriage to Dublin-born Patsy Perin Dubash.

Their children, Cyrus, Shapoor, Aloo and Laila, are also citizens.

Second on the list is the Weston family, headed by Dublin-born retailer and philanthropist Hilary Weston and her Canadian husband Galen.

The family - who are worth €7.5bn - own Witt- ington Investments, which controls department stores including Brown Thomas.

American mogul John Grayken is third on the list with €6.13bn, and Irish businessman Denis O'Brien is fourth with a fortune of €4.9bn.

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