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.
7. Reece and Ryan Broadhurst, 28 and 31 - 2024: £50m
Football stars including Rio Ferdinand, Raheem Sterling and Ashley Cole have been spotted wearing Arne trainers and clothing. Brothers Reece and Ryan Broadhurst set up the Warrington-based label in 2018. Their range includes everything from hoodies and shirts to leggings and sports bras. Turnover more than tripled to £67.8m in 2022-23. Profits of £4.8m suggest that Arne is now worth £50m and the brothers are now branching out into property. | Arne
8. Jess Hunt, 28 - 2024: £42m
REFY Beauty’s lip glosses, skincare range and other products are in vogue. Hunt, a former model, set up the Manchester-based cosmetic brand in 2020 with Jenna Meek. Within three weeks Sephora asked to stock their products and Selfridges soon followed. Instagram has also been integral to their success. Hunt has 1.7m followers on the platform. REFY’s profits doubled to £8.9m on £24.8m sales in 2023. Hunt owns 50% of the £80m brand. A separate company adds another £1.5m. | Gareth Cattermole/Getty Images
9. Jenna Meek, 32 - 2024: £42m
Meek’s first venture was Shrine, a glitter-infused cosmetics brand. Four years ago she teamed up with Jess Hunt to set up REFY Beauty. The pair initially focussed on products for eyebrows and lips before moving on to other cosmetics. Profits of nearly £9m suggest REFY is now a £80m operation. Meek’s 50% stake is worth £40m and a separate company adds another £2.1m. | REFY
10. Elliot Barton and family, 33 - 2024: £24m
Barton and his childhood friend Charlotte Tiplady left school with four GCSEs between them. The pair now run a global eyelash empire exporting to around 100 countries. Their beauty brand Tatti Lashes sells its products through Superdrug, Amazon, ASOS and from their own website. Celebrity endorsements have helped increase sales and after profits of more than £4m the Bootle-based outfit should be worth at least £45m. Barton and another member of his family own 53.7% of Tatti Lashes – stakes worth more than £24m. | Tatti Lashes