Ireland’s 300 richest people are now worth €84.4bn, a record increase of €13.65bn. This is the biggest ever jump in collective wealth since the list started five years ago. In 2010, the total for the top 300 was just shy of €50bn.
The rich have got richer on the back of rising asset values. MSCI, the global index company, has revealed that returns from Irish commercial property in 2014 were double the level in the UK and among the highest in the world, with returns of 40.1pc in the year to January 2015.
Stock markets also shot up, with the Irish ISEQ up 15pc in 2014. London’s FTSE was up around 7pc, with the Dow up 7.5pc in the year. Since then, the Bull Run has continued, with markets reaching all-time highs.
But it’s not just their investments that have made the rich richer, their companies have also become more successful on the back of an improving economic landscape.
Technology, specialist engineering, biotech and manufacturing have all been extremely lucrative sectors for our Rich Listers, ranging from our latest billionaires the 20-something Collison brothers from Limerick to the hugely-successful heating tycoon Martin Naughton of Glen Dimplex.