In the September issue of North West Business Insider, the compiler of the Sunday Times Rich List, Robert Watts has once again compiled Insider’s own business Rich List.
He also compiled a special ranking of the ten tech entrepreneurs who rank the highest in the list of the working wealthy.
All stakes in quoted companies were valued by taking the share price in the Financial Times in early July 2024.
Private company stakes were valued on a par with the nearest equivalent quoted company or failing that by the prevailing prices in the sector.
If that was not appropriate, then Insider simply used a multiple of ten times the profit figure to value a business, reflecting the stock market average.
Where it was appropriate, companies and therefore family stakes are valued on the net assets of the business.
*The Top 50 Rich List for the region can be found in the September issue of Insider, which is out now. Order your copy here.
1. Simon Nixon, 56 - 2024: £1.880bn
After using technology to transform the way millions of consumers choose credit cards and buy insurance, Moneysupermarket founder Simon Nixon is now funding the next generation of tech entrepreneurs through Seek Ventures. His venture capital operation concentrates on backing software, internet and climate tech businesses. His personal assets across the tech sector span the globe and are now worth more than $3bn. | Moneysupermarket
2. Matthew Riley, 50 - 2024: £825m
Riley’s Daisy Communications is billed as the UK’s largest independent specialist telecommunications business. Specialising in catering for SMEs, the Nelson-based group provides IT and other services for 175,000 businesses. Riley founded Daisy in 2001 and has grown the £1.1bn group through a run of acquisitions. He left school at 16 to take up a trainee scheme as a fax machine engineer. | Contributed
3. Matt and Jodie Moulding, 52 - 2024: £661m
Best known for selling beauty, lifestyle and wellness products, Moulding’s online retailer THG consistently generates around £150m of revenue a year from Ingenuity. This ecommerce and fulfilment platform has been sold to a range of other brands and businesses, including L’Oreal, PepsiCo, Mondelez and Holland & Barrett. | Google Photo: Google Maps
4. Christopher Oliver and family, 66 - 2024: £190m
John Oliver set up Mast Group in 1957 to make medical testing kits used for patients receiving antibiotics. Over the years the Liverpool-based health tech firm has developed products to detect colorectal cancer, track infections and monitor autoimmune diseases. Managing director Chris Oliver runs and, with his family’s trusts, owns the £190m firm. | Mast House