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.
9. Shelley Raja and family, 60 - 2024: £70m
Raja founded Scan Computers at his home in 1989. The Bolton-based firm supplies PCs, servers and a wide range of other IT equipment. Turnover has hovered around £200m in recent years. Raja’s cousin Elan is now chief executive and helped drive up profits to £7.5m last year. Scan should be worth £70m. | Google
10. Jatti and Avneet Sahni, 58 and 53 - 2024: £70m
VIP supplies computers, monitors and a wide range of other technology products to retailers. Husband and wife Jatti and Avneet Sahni set up the business in 1990 after moving to the UK from Kuwait. They still own all of the Warrington-based wholesaler, which sells products made by Samsung, Toshiba and well-known brands. There were sales of £185.8m in 2022-23 and VIP should be worth at least £70m. | Google