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 richest entrepreneurs under 42 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 10 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. Robin Arora, 39 - 2024: £700m
The youngest of the three brothers who built up the low-cost retailer B&M into a chain with more than 1,100 stores, Robin studied business at Reading University. All three of the siblings have stepped off the board of the Speke-based business. We attribute a third of the brothers’ £2.1bn wealth to Robin. Before he married, the society magazine Tatler named him as one of the UK’s most eligible singletons, highlighting his “strong eyebrows and swanky style”. | Eamonn M. McCormack/Getty Images for Lodha
2. Tom and Phil Beahon, 34 and 31 - 2024: £340m
A fundraising late last year valued fast-growing sportswear brand Castore at nearly £1bn. The Beahon brothers founded the Manchester-based label less than 10 years ago but are already making kit for the England cricket team, Harlequins rugby club and Newcastle United. The brothers doubled turnover to £115m in 2022-23 and still own 35.2% of the business. | Castore
3. Tom Ryder, 40 - 2024: £293m
Applied Nutrition sells protein shakes, energy bars and a wide range of other products used to power sportsmen and gym goers. Ryder set up the business 10 years ago and is building up to a stock market flotation expected to rise the Liverpool-based group at between £500m and £1bn. Partnerships with football clubs and other sports teams have helped power sales. Ryder still owns 58% of the shares. | Applied Nutrition
4. Alex Solomou, 33 - 2024: £140m
Solomou banked £36.2m when he floated LadBible on the stock market three years ago. He bought the nascent website and Facebook group while at university in Leeds, turning it into a hugely successful viral video platform. “Solly’s” 39.8% stake is now worth £104m – £24.6m more than a year ago. | LadBible
5. Reece Wabara, 32 - 2024: £83m
A former Manchester City defender and England U20 international, Wabara began developing his fashion label during his football career. He quit the game at 26 to focus on Maniere De Voir and now sells chic, urban shirts, trousers, jackets, skirts and other clothes. The Manchester-based brand’s wares include a Mona Lisa themed skateboard. After initially trading only online, Wabara now has a store on London’s Oxford Street. Profits climbed to almost £8m last year and the label should be worth at least £110m – putting a value of £83m on his controlling stake. | Matthew Lewis/Getty Image
6. Mike and George Heaton, 33 and 31 - 2024: £80m
The Heaton brothers don’t lack ambition. Represent, their Bolton-based online clothes retailer, is on a mission is to “build the best brand in the world”. The pair began with just £150 of start-up capital and the idea of printing George’s graphic design coursework onto t-shirts. Smart tie-ups with Kayne West, Justin Bieber and other celebrities have boosted sales of their puffer jackets, hoodies, trainers and other wares. Profits doubled to £9m on turnover of £48.4m in 2022. The brothers still own 99% of the £80m brand. | Victor Boyko/Getty Images for Represent