Sir Ken Morrison is biggest loser on Yorkshire’s rich list

Sir Ken Morrison's family wealth dropped by �167m - the biggest Yorkshire faller in this year's The Sunday Times Rich List.
Sir Ken Morrison's family wealth dropped by �167m - the biggest Yorkshire faller in this year's The Sunday Times Rich List.
  • Sir Ken Morrison’s family wealth down £167m
  • Drop in Morrison’s share price reduces family stake in supermarket company to £283m
  • Brothers Eddie and Malcolm Healey are the richest people in Yorkshire, according to The 2015 Sunday Times Rich List
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SIR KEN Morrison’s family wealth has dropped by £167m in the last year, the result of the plunging share prices reducing the family stake in the firm to £283m, according to the latest edition of The Sunday Times Rich List.

But the lifetime president of Morrisons’ £733m family fortune sees him stand as the fifth wealthiest in Yorkshire, despite a torrid start to the year for the supermarket chain.

The company announced in March a loss of £792m in 2014-15, and suffered a drop in share price as a result - reducing the value of the Morrison family stake to £283m. But past share sales and other assets add a further £450m to the family’s total wealth.

Last week Morrison’s announced it is to axe nearly a third of jobs at its Bradford head office, while recruiting an extra 5,000 staff in stores in a bid to reshape the way that its business is staffed.

Hull-born brothers Eddie and Malcolm Healey remain top of the Yorkshire Wealth League, and joint 59th in Britain, having seen their joint fortune grow by £200m in the past 12 months.

Eddie, 77, sold his Parc Trostre retail park, near Llanelli in Wales, last year for £156m, having previously made £420m from the sale of Sheffield’s Meadowhall shopping centre some years ago. He also developed Centro, Europe’s largest shopping centre in Germany. His side of the family are now worth £950m, with his son, Mark, holding £250m of wind farm assets in Scotland.

Brother Malcolm, 70, made his money from building and selling Hygena Kitchens in Britain and then America. The overall wealth of the family now stands at £1.5bn.

Doncaster DFS tycoon Lord Kirkham remains in second place, with a family wealth of £1.150bn. The fortune is based on the success of the furniture retail chain. The group was sold for £400m in 2010, but a previous float and subsequent share sales had generated £450m for the Kirkham family.

In 2012, Kirkham helped to fund the takeover of the Iceland food group by Malcolm Walker, who is ranked 17th richest in Yorkshire. Kirkham now has an 18.1 per cent stake in the Iceland business, which made £202m profit in 2013-14.

Yorkshire has a fourth billionaire family this year - Robert Miller, the man behind the Duty Free Shoppers (DFS) chain, seen in many airports around the world, and his daughter Princess Marie-Chantal, who sits on the board of the company.

Miller, 81, was born in America, but is now a British citizen and owns the Gunnerside sporting estate in Swaledale.

He is the co-founder of DFS in which LVMH bought a controlling stake for £1.65bn in 1996. Last October, his private equity business, Squadron Capital, was sold and his overall wealth is up £55m this year.

Miller’s rise in wealth saw him switch places with last year’s third wealthiest, Tony Murray and family, the region’s final billionaires who dropped into fourth place after the family fortune of £1.013bn remained the same.

Businessman Paul Sykes, who developed Meadowhall with Eddie Healey, has seen his wealth rise by £40m to now stand at £690m.

Ranked sixth in the Yorkshire rich list, the 71-year-old, who has bankrolled Ukip to the tune of more than £1.3m in the past year, has seen his Highstone property group saw its net assets rise by £45m in 2013-14 to £299m.

Hull City Football club chairman Assem Allam, a major donor to the Labour Party, ranks 11th in this year’s Yorkshire Rich List with a £20m gain in wealth in the past year taking him to £340m.

He made his fortune from manufacturing generators, having taken over a Hull-based engine group in 1981, renaming it Allam Marine. Last year he gave £9m towards the cost of a new headquarters building for the Hull-York medical school.

Huddersfield Town chairman Dean Hoyle, and his wife Janet, former owners of the Card Factory, saw their personal wealth drop £40m to £280m. They remain in 12th place on the regional list.

The Yorkshire Rich List is also notable for having two people with the same name inside its top 20: Malcolm Walker, the boss of the Iceland frozen food business, ranks 17th with a fortune of £215m, while Malcolm Walker and his family rank joint 19th with their fortune of £200m own Victoria Plumb, the bathroom supplier.

The Sunday Times Rich List, which is published by the newspaper this Sunday, is compiled by wealth expert Philip Beresford. This year’s edition is the biggest published since it first appeared in 1989.