Packaging’s wealthiest climb Rich List despite credit crunch hit

The Rich List, published yesterday (27 April), is worth 37% less than 12 months ago, showing the impact of the recession on the wealthiest people in the UK. The newspaper described this year’s list as “easily the worst performance” in the publication’s 21-year history.

Hans Rausing, the industrialist behind Tetra Laval, remained the highest-ranked packaging representative, and actually rose two places to fifth despite losing a quarter of his wealth to £4bn.

He was followed by Sean Quinn, the owner of Quinn Glass, who was ranked 13 and is estimated to be worth £2.29bn. They were joined in the top 100 by former Linpac owner Michael Cornish and his family, who rose from 131st place to 74 this year, despite their estimated wealth dropping £40m to £597m.

Sir Michael Smurfit,  also rose up the list from 224 to 203. His wealth is estimated to have dropped by £104m to £294m, in part due to the drop in value of Smurfit Kappa.

Other names familiar to Packaging News readers include retail leaders Sir Ken Morrision, who came in at 16 with a £1.61bn fortune, and Lord Sainsbury, 37 with £1.1bn.

Packaging’s high flyers
(last year’s postion)

5(7) Hans Rausing and family Tetra Laval £4bn
13 (12) Sean Quinn and family Quinn Glass £2.29bn
74 (131) Michael Cornish and family Linpac £597m
203 (224) Sir Michael Smurfit and family Smurfit Kappa £294m

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