Richest in the region see their wealth soar
The top 20 richest people in the West Midlands have seen their wealth soar by £280million in the past year.
The top 20 richest people in the West Midlands have seen their wealth soar by £280million in the past year.
The Sunday Times Rich List 2010 shows the region's super rich have seen their fortunes grow by five per cent.
It is a staggering turnaround compared to 2009's list which saw the region's top 12 wealthiest lose a total of more than £2 billion. Top of the region's list is mobile phone tycoon John Caudwell.
The 57-year-old who sold his Staffordshire-based mobile phone business Caudwell Group, which includes Phones 4 U in 2006 for £1.24bn, has assets of £1.4bn according to the Sunday Times list.
However, despite topping the West Midlands list he has fallen 10 places to 35th in the national rankings.
Second in the West Midlands list is JCB boss Sir Anthony Bamford whose £950m fortune has stayed the same as last year.
This is despite a nearly 80 per cent fall in JCB profits in 2008. The business, founded by Sir Anthony Bamford's late father, is still worth about £800m.
Other well known figures on the top 20 list for the West Midlands include Wolves owner Steve Morgan who returned to housebuilder Redrow, which he founded in 1974 last year. According to the list his fortune is £350m.
Roy Richardson, who with late brother Don was behind the Merry Hill development at Brierley Hill is at number eight. The list says his wealth has jumped by £50million to £400m.
Other big winners include Stoke City chairman Peter Coates and his daughter Denise who have seen their online gaming business Bet365 grow.
Others who feature on the West Midlands rich list include Ranjit and Baljinder Singh whose business interests include West Bromwich-based chicken company 2 Sisters and fish and chip firm Harry Ramsden's. They are worth £180 million.
Tony Murray, whose business interests include Wolverhampton-based plant hire company Andrew Sykes is on the list worth £481 million. Tony Gallagher whose company runs the Gallagher Retail Park in Wednesbury is worth £425 million.
