Tyrone’s richest families, once worth £360 million, have been feeling the pinch in the past year after dropping off Ireland’s Rich List.
The number of local millionaires among the Sunday Independent’s Top 100 Irish earners has dropped from six to just two.
After seeing their collective net worth hit by the double-whammy of crashing property prices and an unprecedented stock market collapse from 2007 onwards, Tyrone’s wealthy minority have seen their wealth levels decline or be superceded by the rocketing fortunes of their Southern counterparts.
Bucking the trend are Dungannon beef barons Jim (64) and Jack (63) Dobson, who have moved two places up the Irish rich list, swelling their personal fortunes by €30million in the past year, a rise of 24 percent. The brothers, who own Dunbia, one of the biggest meat processors on the island, are now the only Tyrone representatives on the list at number 95.
Their firm saw sales rise to €1.1bn with profits in the low margin business rising 40pc. The company is thought to have held exploratory discussions about a trade sale to a rival last year.
The fact that only the Dobsons have made the Irish rich list this year from Tyrone, does not mean there is less money floating around the county.
The newly published rich list shows there’s just a lot more of it in the Republic of Ireland.
In 2011, a bank balance of £30 million or more would have secured you a place among the country’s wealthiest. In 2016, it would take at least £116 million.
It appears that the restoration of the fortunes of Ireland’s super-rich continues with gusto, with the top earners enjoying the biggest increase in their wealth last year since 2010.