Rory McIlroy named as richest under 40 in Northern Ireland with fortune of £225m
Rory McIlroy has been named the richest person under 40 in Northern Ireland, with his wealth soaring to £225 million, according to the Sunday Times Rich List 2024. This announcement comes shortly after the golfer filed for divorce from Erica Stoll, his wife of seven years. Despite a challenging performance at the US Masters, where…
Rory McIlroy has been named the richest person under 40 in Northern Ireland, with his wealth soaring to £225 million, according to the Sunday Times Rich List 2024. This announcement comes shortly after the golfer filed for divorce from Erica Stoll, his wife of seven years.
Despite a challenging performance at the US Masters, where he finished 22nd, McIlroy has continued to thrive financially. He earned £1.29 million from his win at last summer’s Scottish Open and has amassed over £65 million from his golfing career. However, the majority of his fortune stems from lucrative sponsorship deals with brands like Nike, Omega, and TaylorMade, as well as investments in properties in Dubai, New York, and Florida.
Robert Watts, the compiler of the Sunday Times Rich List, noted that while McIlroy’s valuation remains unchanged until his divorce is finalized, a pre-nuptial agreement is expected to mitigate any significant financial impact.
Lady Ballyedmond and her family have been named the richest people in Northern Ireland, despite their wealth dropping by £136 million to £914 million. This decline reflects a broader trend, with the UK experiencing a decrease in billionaires from 177 in 2022 to 165 this year. The Ballyedmonds, owners of Norbrook Pharmaceuticals, have surpassed last year’s top earner, Stephen Fitzpatrick.
Fitzpatrick, co-founder of Ovo Energy and founder of Vertical Aerospace, has seen his wealth decrease dramatically by £1.378 billion to £834 million. Ovo Energy reported a £1.3 billion loss, attributed to rising energy costs following the pandemic and the Russian invasion of Ukraine. Vertical Aerospace, Fitzpatrick’s venture into electric vertical take-off and landing (VTOL) aircraft, has faced significant setbacks, including a severe drop in share value and technological challenges.
Other notable entries on the Northern Ireland rich list include Martin McNaughton and family of Glen Dimplex, with a stable wealth of £850 million. Robert and William Barnett of W&R Barnett, a food distribution and packaging firm, saw their wealth increase by £120 million to £645 million. Michael Loughran and family, from fuel distributors LCC, also enjoyed a boost, with their fortune rising by £104 million to £604 million.
Robert Watts explained that the decline in the number of billionaires in the UK is due to several factors: higher interest rates, inflation, and weak economic growth impacting business profitability. Additionally, the global super-rich are increasingly moving away from London, seeking more attractive markets like New York, while London’s property market remains overvalued.
In summary, while Northern Ireland has seen shifts in its wealth rankings, key figures like Rory McIlroy and Lady Ballyedmond remain prominent, with McIlroy’s diversified earnings and Lady Ballyedmond’s resilient business ventures illustrating the varied paths to wealth in the region.
