Limerick brothers are youngest billionaires in country

Anne Sheridan

Reporter:

Anne Sheridan

Whizz Kids: the Collison brothers: John and Patrick
THE ESTIMATED wealth of Limerick’s Collison brothers has now surpassed that of JP McManus, according to the Sunday Times’ Rich List.

THE ESTIMATED wealth of Limerick’s Collison brothers has now surpassed that of JP McManus, according to the Sunday Times’ Rich List.

The San Francisco based brothers, who are still in their mid-20s and have established a range of financially lucrative companies, are estimated to be worth in the region of €1.37 billion.

They have now become the youngest billionaires in the country’s history and are believed to be the only billionaires from Limerick.

In terms of the young Irish rich list, the brothers, who were educated in Castletroy College, are also ahead of golfer Rory McIlroy, and musician Niall Horan of One Direction.

The Collison brothers, who run an online payments business Stripe, joined the Irish list worth €68m just two years ago.

Stripe was valued at nearly €3bn last year, but the brothers said they had no intention of selling the company

Philanthropist and businessman JP McManus is placed at number 16 in the Irish rich list, with an estimated fortune of €803m, acquired through investments and gambling.

The 64-year-old, who predominantly resides in Geneva recently confirmed that he bought the five-star Adare Manor for €30m. It is anticipated his star-studded Pro-Am charity golf event may now make a comeback.

Property developer Aidan Brooks is also seeing his wealth accumulate since he moved from Limerick to London. Now placed at number 30 on the list - rising from 97th place last year - he has an estimated fortune of €425m, and is the fourth biggest riser through the list given a number of shrewd investments.

His company Tribeca Holdings, a luxury property company which invests in prime retail sites across the world, has appointed the prestigious Rothschild firm to sell or refinance its properties on Oxford Street. It is likely the sale could fetch him in the region of €200m profit.

Michael, 66, and Brian Enright, 43, have an estimated fortune of €190m from the global logistics company Syncreon. The Enright family, best known for building up the former Walsh Western haulage business, put the company up for sale for $1bn two years ago, but Brian Enright remains the CEO of the company.

Low profile Euromillions winner Dolores McNamara, 55, is placed at number 95 on the rich list, with an estimated fortune of €138m, falling slightly on the list by just one place. Two years ago she bought another mansion on the shores of Lough Derg after an international bidding frenzy. Tinerana House, on 220 acres, has 16 bedrooms, 15 bathrooms, and was formerly owned by Dr Pascal Carmody, who sold it in 2006 to a development consortium.

The interest she has accumulated on her €115m 2005 Euromillions win, as a result of a €2 quick-pick, has been in the region of €12m.

She already owns nearby Lough Derg Hall, which was bought for €1.7m in 2005.