Ireland's richest man of 2009 now broke, says new list

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Sean Quinn

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Ireland’s richest man Sean Quinn in now almost broke.

That's according to the Sunday Times newspaper list of the richest Irish people.

Sean Quinn had £2,295m ($3,529m) and was top of the Sunday Times Rich List for Northern Ireland in 2009.

This year, he does not even feature in the Irish list.

The Quinn family now owes 4bn euros ($5.35bn) to various banks, the bulk of it to Anglo Irish Bank and the shares are worthless.

Their flagship Quinn Direct insurance company was recently taken over by the state and major job losses are expected.
 
Colin Murphy, the compiler of the Irish Sunday Times Rich List, said that the Quinn family had dropped off the list because of "uncertainties about the extent to which their borrowings are covered by their assets".

Lord Ballyedmond - the multi-millionaire Edward Haughey - tops the new Northern Ireland list.

The 66-year-old Unionist peer owns Newry-based pharmaceutical company Norbrook Laboratories is worth £500m ($770m) the list says.

The most surprising new Northern Ireland entrant is 80-year-old novelist Jack Higgins.

The man who wrote  'The Eagle has Landed,’ grew up in Belfast, but is based in tax haven, Jersey. It is estimated that he has a £53m ($81.5m) fortune.

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