Collapse of Irish banks wipes nearly 40% off personal wealth
Insurance magnate Sean Quinn suffered one of the biggest losses in wealth on this year's Sunday Times Rich List seeing his wealth fall by almost 40% to £2.3bn.
His family's fortune has dropped £1.44m (38%) to £2,295m, although they stay second on the overall Irish list.
Quinn lost more than £1bn on his stake in Anglo Irish Bank when it was nationalised in January.
The Belfast Telegraph reported that the loss was the largest among Ireland’s elite and lost Mr Quinn the title of richest person in Ireland. He remained the richest person in Northern Ireland.
