This PDF 1.6 document has been generated by Adobe Acrobat 10.1.4 / Acrobat Distiller 10.1.4 (Macintosh), and has been sent on pdf-archive.com on 28/11/2014 at 12:38, from IP address 89.197.x.x.
The current document download page has been viewed 641 times.
File size: 3.35 MB (24 pages).
Privacy: public file
DISTINCTIVE
YOUR LAW
FIRM IN TUNE
WITH YOU?
www.btmk.co.uk
Richest
50
Essex Life presents the Essex Life Richest 50, charting the wealthiest
men and women with connections to the county courtesy of
accountant and author, Philip Beresford
www.essexlifemag.co.uk
119
50
Richest
E
SSEX is booming, at least
commitment to remaining in Essex and
47 self-made are returnees to the list,
for the 50 richest Essex
therefore paying their taxes here. Tax
Vijay and Bhikhu Patel, who are bent on
millionaires. In this, the
exile certainly doesn’t seem to appeal to
recreating the successful pharma
11th Essex Life Richest 50
our continuing number one, Lord Sugar,
operation they recently sold. They also
list, the top 50 wealthiest
or our new number two, West Ham
help push our Asian community
United co-owner, David Sullivan.
representation up to four this year.
are now worth a collective £8.017
billion, up £1.89 billion or a cool 31%
rise on 2013.
The booming housing market, strong
Celebrity wealth too is alive and well in
Women too still get short shrift, though
Essex. Veteran rocker Rod Stewart, soon
we have six this year, either in their own
to reach 70, shows no sign of cooling his
right or as partners of Essex-born tycoons.
In terms of age, it is still a pretty
profits at local niche manufacturers and a
love affair with the county, spending
canny eye for a bargain among some of
some of his £140m fortune buying a
middle-aged list. The oldest person we
the traditional Essex multi-millionaires
near-£5m country pile near Epping Forest
have in the top 50 is Jack Petchey, born in
have all combined to make 2014 a vintage
last year, his second Essex mansion.
1925. We have no-one born in the 1980s
year for the local rich.
David and Victoria Beckham again make
and just four born in the 1970s, including
it into our top 50 with a joint £210m
the Beckhams. Geographically, Essex
tide of wealth at the top lift everyone of
fortune, thanks to their respective roots
wealth is diffused round the county.
the county’s 1.31m population to greater
in Leytonstone and Harlow.
Leafy Epping has five of the Essex 50
Of course, we all want to see the rising
prosperity. And to that end, it helps that
Outside this A list world, the Essex Life
while Colchester has four and Billericay,
Basildon and Southend have two apiece.
the unemployment rate in Essex at 5.8%
Richest 50 largely come from business.
is well down on the UK average of 6.4%,
Essex is blessed with a very diverse
with several towns having rates as low as
economy. The county’s proximity to
1.5%.
London and its housing market always
HOW IS IT CALCULATED?
helps our property and construction
To qualify for the Essex Life Richest 50 is
too. Essex has the second highest
millionaires and this year we have 15 (one
no simple matter. The person must either
concentration of finance and insurance
up on last year). Industry is second with
work, live or be born in the area or have a
Proximity to the City of London helps
workers in the European Union
with 66,000 workers, only
second to London,
which means lots of
well-paid jobs and the
eight millionaires and we have three
millionaires in finance, the
same as last year.
The Essex Life 50 are
also overwhelmingly
substantial presence in the area. Their
wealth is assessed on land holdings,
shares in quoted or private companies
and any sale proceeds from company
sales. Quoted company stakes were
self-made. Only
valued at the end of August 2014. Private
spent in the commuter
three of the
companies are generally valued at about
towns where these City
Essex 50
ten times their latest profit figures,
slickers live.
inherited
depending on the financial health of the
their
operation. We have no access to detailed
is that those at
fortunes,
personal financial records such as bank
the top of our
half last
accounts or the like, so make no
list show a
year’s figure.
allowance for these.
keen
Among the
money earned being
The good news
www.essexlifemag.co.uk
1 21
• RICHEST 50 •
32 Richard Higgins
& Family
Construction £58m
16 Gordon Sanders & Family
Care homes
£175m
49 Michael Toomey
Car sales £41m
31 Robin Tomkins
& Family
Property £60m
13= Gary Widdowson
Industry £180m
48 Allan Binks
& Family
Shipping £42m
30 Christopher
Johnson & Family
Industry £62m
46= Martin Mills & Family
Dental supplies £43m
28= Gene Willson
Aviation £63m
46= Brian & Carole Brown
Industry £43m
28= Iain Liddell
Freight services
£63m
50 Edward Belcher
& Family
Property and car sales
£40m
45 Paul Smith & Family
Estate agency £44m
41= Alan Witzenfeld &
Family
Retailing £45m
41= Derek Hood & Family
Classic cars £45m
41= Barry Hearn
& Family
Sports management £45m
41= John Carver & Family
Industry £45m
40 Raymond & Roger
Raymond plus Family
Property £48m
38= Patrick Ridgwell
& Family
Food £50m
38= Bernard Holmes
Transport £50m
36= Rabinder Rai
& Family
Care homes £52m
36= Avnish Goyal
& Family
Care homes £52m
34= Susan Tobbell
Petrol retailing
£53m
34= Graham Peacock
Petrol retailing £53m
33 Paul & Helena Jeffery
Care homes £54m
27 Ray Stephens & Family
Industry
£64m
26 Frank Van Wezel
Industry£80m
25 Dennis Myers & Family
Finance
£82m
24 David Wernick
& Family
Construction £85m
23 Daniel Watts & Family
Property
£90m
20= Steve Rawlings
Construction
£100m
20= Brendan O’Malley
& Family
Construction
£100m
13= Vipul Thakrar & Family
Rice production £180m
13= Nigel Morris
Finance
£180m
12 Michael Gooch
Finance
£190m
11 David Beckham
& Victoria Beckham
Football and fashion
£210m
10 Jamie & Juliette Oliver
Media and restaurants
£240m
9 Stephen Conway & Family
Property and construction
£260m
8 William Ives & Family
Industry
£330m
7 Andreas Panayiotou
Property
£350m
6 Mark Burnett
& Roma Downey
TV and films
£370m
5 Patrick McKenna
Media
£500m
20= Andrew Hill
& Family
Construction
£100m
4 Vijay & Bhikhu Patel
Pharmaceuticals
£525m
19 Sir Jonathan Ive
Design
£120m
3 Jack Petchey
Property
£550m
18 Kevin Taylor
Construction
£135m
2 David Sullivan
Property and football
£750m
17 Rod Stewart
Music
£140m
1 Lord Sugar
Property and computers
£950m
Edward Belcher
& Family
Property and
car sales
£40m
50
Bates Motor Group, a BMW and
Audi specialist car retailer was taken over by the
quoted Inchcape operation in 2001 for £22.3m.
Bates, based in the Maldon area of Essex, was
largely owned by Edward Belcher and his family,
who picked up at least £21m for its stake. Belcher
continues to run the separate Bates Finance
(Onslow) and Bates Finance (Southend) which
showed £4.5m net assets in their 2012 accounts.
He also has various property interests. In all he
should easily be worth £40m after his shrewd
timing on the sale and his entry into the property
market.
49
Michael
Toomey
Car sales £41m
Laindon Holdings saw its profits hit
a record £2.2m on sales also at a high of £180.4m
in 2013. The Basildon car dealer was set up in 1929
by entrepreneur Joseph Toomey selling
motorcycles. He thrived in developing Essex as
mass-produced cars became the norm. A
construction division later capitalised on the
post-war building boom and the growth of Basildon
new town. In addition to the George Martin
construction arm and car dealerships, Laindon has
a car-rental and repair business, five vehicleleasing firms, plus a taxi and courier business. It is
now run and owned by Michael Toomey, son of the
company’s founder. Laindon should be worth its
near £37.4m net assets. Other smaller companies
take Toomey to £41m.
48
Allan Binks
& Family
Shipping £42m
The Harwich-based Mann Group
provides shipping, warehousing and
stevedoring services. It was started in 1989 when
Allan Binks led a management buyout of various
divisions to form a business group called Bunzl
which made a healthy £5.9m profit on £53.7m sales
in 2012. It is owned by Binks, his family and family
trusts. Two other Binks’ family-owned companies,
Fricor and Traminco, show £4.2m net assets. In all
the Binks family should be worth £42m.
www.essexlifemag.co.uk
1 23
• RICHEST 50 •
46=
Martin Mills & Family
Dental supplies
£43m
The Dental Directory, a Witham-based company, was founded in 1971 and it
is Britain’s largest independent full service dental dealer. In May 2014, a private
equity-backed corporate dental provider from Bolton bought the Dental Directory
for an undisclosed sum. The Dental Directory Catalogue, with over 27,000 different professional
dental products, has achieved its number one status because it offers today’s general dental
practitioners a vast range of products, combined with a service which guarantees fast deliver. In
2013, the company, now called Sharksfin Holdings, made £7.7m profit on £102.8m sales. With
£38.5m net assets it should have been worth at least £50m in the takeover. It was largely
owned by the Mills family led my managing director Martin Mills. After tax the family should be
worth £43m.
46=
Brian & Carole Brown
Industry
£43m
Chester Hall Precision Engineering does high quality sub-contract work for
the aerospace industry using high speed CNC machine tools and working with
aerospace alloys and exotic materials. The Wickford-based operation is 90% owned
by its boss Brian Brown and his wife Carole. In 2013 it made £6.9m profit on £20.2m sales and
with a solid balance sheet and £18.3m net assets, should be worth £48m. That values the
Brown stake at around £43m.
Alan
Witzenfeld
& Family
41=
Retailing
£45m
Alan Witzenfeld started in the costume
jewellery trade as a youth with a seaside
stall on Southend seafront. From there he
built the DCK fashion jewellery empire.
Teenage girls are the target for DCK, which
sells affordable jewellery in stores such as
Topshop, Miss Selfridge and Matalan. The
Billericay-based company has an
international presence and DCK
Concessions is one of the world’s leading
high street fashion jewellery retailer,
operating with over 15 retailers in 33
countries. It sources more than 60 million
pieces of jewellery each year. In 2010 Caird
Capital purchased a 20% stake from Bank
of Scotland. In 2012-13 the parent company
DCK Group made a healthy £12m profit on
125.9m sales. With £21m net assets and a
healthy balance sheet, it is a £75m
operation. Witzenfeld and his family own a
£40m stake. Other assets add £5m
Derek
Hood &
Family
41=
Classic cars
£45m
40
Paul Smith & Family
Estate agency
£44m
Paul Smith co-founded Colchester-based Spicerhaart as a three-branch
agency in East Anglia in 1989 with his father. Now, 25 years later, it operates
five well-known estate agencies in England (Haart, Spicer McColl, Haybrook, Felicity J Lord and
Chewton Rose), as well as Darlows in Wales. It also has an alternative to high street estate
agencies through iSold.com. Profits at Spicerhaart Group rose dramatically in 2012 from £1.7m
to nearly £6.4m on sales of £92.3m, while its net assets came in at nearly £14m. Smith and his
family own all the £44m operation.
Derek Hood came in 16th in the 2014 Le
Mans Classic race in July, driving a Jaguar
XK120. The Jaguar was one of five cars in
the race from Hood’s JD Classics operation
in Maldon. He trained as a dentist but after
he began restoring classic cars as a hobby,
he quickly found there was strong demand
for his services and that he could turn his
pastime into a business. He gave up teeth
and since 1987 has been running JD
Classics. It specialises in restoring and
preparing racing cars reaching speeds in
excess of 200mph. It also provides
customers with JD race team specialists to
support their cars in European and
worldwide race events. Hood has also
launched Jaguar Heritage Racing Trust on
behalf of Jaguar Cars, which gives full race
preparation and support for Jaguar’s Cars’
historic fleet of vehicles. In 2012-13 JD
Classics saw its profit soar to £6.9m on
£39.5m sales. Hood owns all the £45m
operation.
www.essexlifemag.co.uk
1 25
BTMK Richest 50.pdf (PDF, 3.35 MB)
Use the permanent link to the download page to share your document on Facebook, Twitter, LinkedIn, or directly with a contact by e-Mail, Messenger, Whatsapp, Line..
Use the short link to share your document on Twitter or by text message (SMS)
Copy the following HTML code to share your document on a Website or Blog