Rich List: Limerick businessman JP McManus increases fortune by €77m

David Hurley

Reporter:

David Hurley

Email:

david.hurley@limerickleader.ie

Rich List: Limerick businessman JP McManus increases fortune by €77m

JP McManus is now worth €1.156 billion according to the Sunday Times Rich List

BUSINESSMAN JP McManus increased his personal wealth by almost €80 million last year, according to the latest Sunday Times Rich List.

The list, which has been published this Sunday, estimates the businessman and his family are now worth €1.156 billion.

One of the main reasons for the increase has been attributed to the €175m profit which was achieved on the €1bn sale, in 2016, of Vendome Saint-Honore, a block close to the Ritz hotel in Paris.

Former Castletroy College Students, John and Patrick Collison also feature high up the list with each said to be worth around €1.2 billion.

It is understood they have a combined 25% share in the online payments business Stripe, making them the world’s youngest self-made billionaires. 

The brothers, who now live in San Francisco, have been making money since their teens – when Patrick won the BT Young Scientist of the Year, aged 16, in 2005.

“The success of the Collison brothers is perhaps the most striking feature of the Munster Rich List and indeed any analysis of the richest under 30 anywhere in the world. The Limerick pair are still in their 20s but already second in Munster and in fourth place overall in the Irish Rich List. Their success shows the ever-green value of having a great idea at the right time, launching their online payment technology just as the internet was expanding exponential,” said Colm Murphy, compiler of The Sunday Times Irish Rich List.

Limerick developer Aidan Brooks and his family also feature prominently in the Rich List having increased their wealth by €49 million to €625 million over the past 12 months.