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FATHERS OF ENTREPRENEURSHIP
Ireland's entrepreneurs are role models for future generations. Here we recognise some of the finest entrepreneurs who have made the top.
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SIR ANTHONY O’REILLY
Birth: Dublin, 1936
Education: Belvedere College, University College Dublin, the Incorporated Law Society of Ireland and University of Bradford, England
Hobbies: Rugby, Art
Sir Anthony O’Reilly, 70, is chairman and controlling shareholder of
Independent Newspapers (IN&M). The company has around 200 national
and regional titles in total, manages gross assets of €3.9 billion, has a turnover
of over €1.8 billion and employs over 11,000 people worldwide. O’Reilly is a former chairman, president
and CEO of HJ Heinz Company and a former member of the board of the New York Stock Exchange.
He is also chairman of Waterford Wedgwood and Eircom. His family has a 72% stake in Acron International
Resources. After a successful career playing rugby for his country, O’Reilly
moved into business. He became the general manager of Ireland’s Milk Marketing Board and developed the
Kerrygold brand. He was also the first foreigner to be appointed chairman of Heinz, from which he retired in 2000. |
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DERMOT DESMOND
Birth: Cork, 1950
Education: Scoil Mhuire in Marino and Good Counsel College in New Ross
Hobbies: Golf
Fifty five-year-old Dermot Desmond founded NCB in 1981 and grew the
business to become Ireland’s largest independent stockbroker. In 1994 he
sold NCB to the National Westminster Bank (now The Royal Bank of Scotland).
He was also the original promoter of the IFSC, which now has 400 companies
operating in Dublin’s docklands. Prior to founding
International Investment and Underwriting (IIU) in 1995, he established
a number of software companies serving the financial services sector.
Desmond is the largest shareholder in Celtic football club (41%) and owns
London City Airport. He co-owns the Sandy Lane Hotel in Barbados and The
Sporting Emporium in Dublin city centre. Desmond, who is a tax exile in
Gibraltar, has significant stakes in several other companies including Vivas and Daon.
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JOHN MAGNIER
Birth: 1948
Education: Glenstal Abbey, County Limerick but had to leave school at 15
Hobbies: Art
John Magnier worked on the family stud farm, following the death of
his father. He built the farm into a multi-million international business
called Coolmore Stud. It is based in County Tipperary and has branches in
Versailles, Kentucky and Australia. Magnier, who left school at the age of
15, has ruthlessly built up the Coolmore racing empire over three decades and
is considered to be the most influential man in horseracing and breeding
worldwide. He also has a large number of very successful non-bloodstock
investments, mostly outside of Ireland. Together with business associate
JP McManus he built up a 28.89% shareholding in Manchester United,which was sold in May 2005 to
Malcolm Glazer. Magnier has stakes in Devro and Barchester. He also partly-owns the
Sandy Lane hotel in Barbados and homes in Co Tipperary, Spain and
Switzerland, where he is resident for tax purposes.
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TONY RYAN
Birth: Co Tipperary, 1936
Education: Trinity College, the National University of Ireland and the University of Limerick
Hobbies: Art
Tony Ryan is seen as the most significant figure in the history of
Irish air transport. He turned aircraft leasing and finance into a global business
that is now key to fleet development by airlines worldwide.
He founded Ryanair in 1985, an airline that has redefined the passenger airline business and is the
fastest growing airline in Europe. Indeed the progress of Ryanair over
the last 20 years mirrors the progress of the national economy. Ryan also famously mentored,
probably the two most successful young Irish entrepreneurs of their generation who earlier worked as
personal assistants to him: Michael O’Leary and Dennis O’Brien. He also pledged a €10 million
investment fund for entrepreneurs at the DCU Ryan Academy for Entrepreneurship.
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JOHN PATRICK MCMANUS
Birth: Limerick, 1951
Education: Trinity College, the National University of Ireland and the University of Limerick
Hobbies: Horse Racing, Hurling, Golfing and Football
Legendary gambler and major racehorse owner, JP McManus has
an alleged personal fortune of €571 million, of which around €370
million has been garnered by playing the foreign exchange markets. The
former bookie is also one of the world’s top racehorse owners, with
more than 100 horses in training. He also has stakes in Barchester
(a nursing home operator), Next Generation (a sports club chain) and
the Sandy Lane hotel in Barbados. He has a stud in Newmarket, Co
Kildare. In 2005, he sold his stake in Manchester United along with business associate John Magnier.
Born in Limerick, McManus began his business career at his family’s
construction plant hire firm, and then became an on-course bookmaker at
Limerick’s greyhound track, where his explosive exploits earned him the
nickname the ‘Sundance Kid.’ McManus is also an avid golfer having partnered Irish Ryder
Cup star Padraig Harrington to victory in the prestigious Dunhill Links Championship in Scotland
in September. He has played and beaten Tiger Woods when the two met in a head-to-head match at Limerick Golf Club.
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SEAN QUINN
Birth: Co Fermanagh, 1946
Now 57 years of age, Sean Quinn, who started off his business selling sand
and gravel from his family’s back garden in Derrylin, Co Fermanagh, in
the early 1970s, is one of the richest men in Ireland. Quinn is a serial entrepreneur with
his conglomerate, the Quinn Group, having interests in the manufacture
of cement, concrete and insulation products as well as container glass
and the provision of general insurance through its Quinn-direct Insurance division.
In addition the group has a large property portfolio consisting of hotels, pubs and a fitness club. The group
owns various pubs and also owns the Slieve Russell Hotel in Cavan, Buswells
in Dublin, the Hilton and Ibis in Prague and the Belfry hotel and golf course in England, amongst others.
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MICHAEL SMURFIT
Birth: Lancashire, 1936
Education: Clongowes Wood College
Hobbies: Golf
Michael Smurfit joined his father’s company when he was 19. More than
two decades later he as appointed chairman and CEO of Jefferson Smurfit
Group (JSG). He retired in November 2002 but still holds the position of
chairman. In the time that he was in charge of the company, he transformed
it into a global giant. This shrewd businessman has experienced nothing short of one
remarkable success after another. Over the years JSG expanded hugely by a
series of expansions and has become a global conglomerate. Dr Smurfit is a Fellow of the
International Academy of Management and is also the honorary Irish consul to Monaco.
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MICHAEL NAUGHTON
Birth: Co Louth, 1938
Education: De La Salle College, Dundalk
Hobbies: Art
Martin Naughton is the founder and group executive chairman of Glen
Dimplex, which has an annual turnover of €1.5 billion and employs 8,500 people,
including 2,000 in Ireland. The company is one of the world’s biggest electrical
appliances manufacturers whose brands include Goblin and Morphy Richards.
In 2004, Naughton bought out his partner Lochlann Quinn’s 26% stake to
take outright control in the privately owned company.
An investor with Quinn in the fivestar Merrion Hotel in Dublin, Naughton
is also chairman of InterTradeIreland. He has also provided the funding for
the Martin Naughton chair of business strategy in the school of management
at Queen’s University Belfast.
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DENIS O'BRIEN
Birth: 1959
Education: University College Dublin and Boston College
Hobbies: Nature Walks, Boating
Denis O’Brien, 47, has built his Digicel mobile phone company into one of
the largest in the Caribbean in just over five years. His other company,
Communicorp Group, owns and operates 31 commercial radio stations
in 6 European countries. In 1991, he established Esat Telecom in Ireland, which became
the first company to compete against the former state-owned telephone
company, Telecom Eireann (now eircom). In 2001, O’Brien sold Esat
Telecom to British Telecom for $2.9 billion (€2.3 billion).
O’ Brien also owns the worldrenowned golfing and property resort,
Quinta do Lago S.A. in the Algarve, Portugal. He has also strengthened
his golfing investments through the purchase
of PGA European tour courses. Denis O’Brien is a director
and shareholder of numerous other companies
including Bank of Ireland, Media Lab Europe, e-via Spa (Italy)
and 360 Networks (Canada). He recently purchased 3% of Independent News and Media (IN&M).
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MICHAEL O'LEARY
Birth: 1961
Education: Clongowes Wood College, Trinity College, Dublin (did not graduate)
Hobbies: Horse riding and farming
O’Leary, 45, is among Ireland’s richest men, with an estimated fortune of
€397 million. While working as a tax consultant in KPMG, he met Ryanair’s
founder, Tony Ryan, who employed O’Leary as a ‘financial guide’ advising
on tax and investments. Ever since Tony Ryan asked O’Leary to
take over his ailing carrier in 1993, O’Leary has never looked back and made Ryanair
into the fastest growing airline in Europe. He has been the public face of the airline
since becoming the boss in 1994. This year Ryanair will carry over 35
million passengers on 288 low fare routes across 21 European countries.
The airline currently employs a team of 2700 people.
O’Leary is the carrier’s biggest individual shareholder with an
estimated stake worth €232 million. Other indulgences include a Westmeath estate where he breeds
prize cattle, and a house in Dublin.
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