Monday, May 9, 2011

Sunday Times Rich List reveals the wealthiest people in our region

LOCAL multi-millionaires have appeared alongside the Beckhams, Simon Cowell and Sir Richard Branson in this year's Sunday Times Rich List.

The annual guide to the richest people in Britain and Ireland has ranked the Cornish dynasty as the wealthiest in the area for the second year running.

Michael Cornish, 57 – the son of the late Evan Cornish, who founded Louth packaging giant LinPac – and his family are ranked 160th, with a fortune of £497 million.

The Horncastle-based family – who were ranked 140th last year – made £700 million by selling LinPac to Montagu Private Equity in 2003.

As reported, their fortune dropped £100 million between 2009 and 2010, but has remained stable in the past 12 months.

Michael is now a 50 per cent shareholder of Oak Ridge Hotels, which owns the Brackenborough Hotel, near Louth, and the Ashbourne, at North Killingholme.

Soaring back into the list is Carphone Warehouse co-founder, Grimsby-born entrepreneur David Ross, 45.

Ranked at 178, with a fortune of £450 million, Ross fell out of the rankings in 2009 when his property venture, Kandahar, was badly hit by the financial crisis. It is now thought to be worth £230 million and Ross is reported to be ready to sell its assets.

Ranked at 237, with £330 million in the coffers, is John Cook, 66, and his family. They own Bourne Leisure – which operates Thorpe Park, in Cleethorpes – and although their fortune is up £10 million in the past 12 months, they have fallen 23 places in the Rich List rankings

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