Patrick and John Collison are the fourth richest Irish people according to the list
WITH a combined estimated wealth of €2.4 billion, the Collison brothers from Castletroy are now Limerick’s richest people, and are firmly on track to surpass Limerick's richest man by a few furlongs rather than a length.
The brothers, now based in the US, are the fourth richest Irish people, according to listings with The Sunday Times’ Rich List, thanks to rapidly rising dividends from their online payments company, Stripe.
Their wealth has grown considerably from a combined fortune of €59m, according to the same guide, just four years ago.
Their rapidly growing online payments firm, founded in 2009, offers payment processing services for online and mobile transactions.
It supports credit card payments in more than 130 different currencies, and is valued at $9 billion (€8.48bn).
The San Francisco-headquartered company, which employs more than 500 people globally, now operates in 25 countries, with its European headquarters in Dublin.
The duo shot to prominence after Patrick, now 28, won the BT Young Scientist of the Year title in 2005, and secured a place at MIT to study maths aged 17. Brother John, 26, is the youngest billionaire in Ireland.
In all, the list of Limerick born or educated individuals have a combined wealth of €3.682 billion.
The leaders in the tech industry are even ahead of JP McManus, the billionaire racing magnate, philanthropist, businessman and tax exile, who has an estimated wealth of €1.079bn.
Media-shy McManus is currently driving the multi-million euro redevelopment of the five-star Adare Manor Hotel and Golf Resort, with ambitions to turn it into the 'Augusta of Europe' and host the Ryder Cup in 2026.
Gene Murtagh, who graduated with a business degree from the University of Limerick in 1993, is alongside his father Eugene, ranked as the 14th richest in the country, with a wealth of €1.027bn, up €221m from last year, following profits made in their insulation company Kingspan.
Now London based property developer Aidan Brooks has seen his wealth rise by €50m in the past 12 months, up to €576m.
He still has property on the city’s North Circular Road, though the former Bishop’s Palace has now changed hands with McManus’s brother Gerry, with an underground car park for his extensive car collection.
The 46 year-old former aerial installer is running his worldwide property interests firm, Tribeca Holdings, from London’s Mayfair. Brooks is listed as the 23rd richest Irish person.
Pat McDonagh, who owns the Castletroy Park Hotel, is placed as the 61st richest, alongside his wife Una, with a wealth of €196m, up €2m on last year.
Limerick’s richest lottery winner, Dolores McNamara, has fallen eleven places in the rich list, down to number 117, with an estimated wealth of €121m, following her €115m Euromillions win in July 2005.
The Blackpool born mother of six and former cleaner owns Tinerana, a 16-bed mansion on the shores on Lough Derg, amongst other six-figure sum properties in the Mid-West.
Des Mulcair, 51, and brother Jim, 55, of the Limerick based construction company Roadbridge are a new entry to the guide, with a combined fortune of €112m, and placed at 123rd richest in the country. The company was founded by the late Pat Mulcair in 1967.
Kieran Curran, 36, from Ballyclough, county Limerick, is listed as the 196th richest, after amassing €73m, through his Limerick based medical technology company, GenCell Biosystems. He sold his majority take in the company in 2014, netting €73m.
Michael, Brian and Colin Enright of the Michigan based logistics company, Syncreon, have a wealth of €58m, and are in 254th place.
Limerick pharmacist Gerard Ryan, 56, is another new entry to the guide, after selling his company Firecrest Clinical to Icon for €50m in 2011, with a now estimated wealth of €51m. He is listed as the 277th richest.