Log In

Reset Password
BERMUDA | RSS PODCAST

Rich Britons with local links

compiled by The Sunday Times newspaper's magazine section.Ten people in the list -- including four of the top 25 -- have or have recently had a Bermuda business connection of one form of another.

compiled by The Sunday Times newspaper's magazine section.

Ten people in the list -- including four of the top 25 -- have or have recently had a Bermuda business connection of one form of another.

Leading the way in seventh position on the list is Sir John Moores and his family with a fortune of 1.3 billion (approx. $2.4 billion).

Sir John, whose amassed his wealth through football pools and stores, severed his business link with Bermuda last year when he sold the Elbow Beach Hotel to a US property company owned by two Americans and a Saudi Arabian for about $80 million.

Not far behind him in tenth place is Sir James Goldsmith, 59, whose fortune is estimated to be worth 760 million ($1.4b).

Sir James set up Bermuda-based Hoylake Investments in June, 1989, with Australian media tycoon Mr. Kerry Packer and British banker Mr. Jacob Rothschild, for the specific purpose of trying to take over the huge British conglomerate BAT, formerly British American Tobacco.

Even though the bid failed after a bitter struggle, Hoylake is still registered as a company in Bermuda.

Next down on the list in 11th place is Mr. Charles Feeney, 60, who owns a chain of 160 duty free shops and is worth 700 million ($1.3b).

Mr. Feeney, whose Duty Free Shoppers stores have annual sales of $2.5 billion, invests his profits through his Bermuda-based company, General Atlantic Holdings.

Secretive twin brothers Messrs. David and Frederick Barclay, 56, whose holding company, BI Ltd., is registered in Bermuda, are ranked 17th on the list with a combined fortune of 450 million ($824m).

The Sunday Times describes the brothers, who have hardly given an interview throughout their long business careers, as "reclusive''.

They live in Monte Carlo and made most of their money from property and hotels.

BI was formed in Bermuda in August, 1989, and is registered at Appleby, Spurling and Kempe firm of attorneys.

It is not known if the brothers own any property in Bermuda or if they spend much time here. They own the Gotaas-Larsen shipping line, which is also registered in Bermuda.

The Barclays moved into the unfamiliar territory of being in the public spotlight earlier this year when they bought The European , the newspaper started by the late Robert Maxwell.

Mr. Tiny Rowland, 74, the boss of Lonrho, which owns Bermuda's Princess Hotels, features in 25th position with a fortune valued at 250 million ($458m) -- 60 million more than last year.

Lonrho, which has been trying to sell the Princess Hotels for several months to off-load some of its debt, is an international trading and mining group.

The firm is Africa's largest food producer and also owns The Observer newspaper, of London.

Brothers Messrs. Henry, 53, and Simon Keswick, 49, have a fortune of 168 million ($307m), which puts them in 57th spot.

They own a ten percent stake in Jardine Matheson, the huge Hong Kong-based trading group which, in 1990, became one of the first companies in the Colony to transfer its registration to Bermuda in anticipation of Chinese rule in 1997.

This triggered a mass exodus of similar transferrals which today numbers well over 100.

Lord Forte, 83, head of the eponymous hotel chain, and his family come into the list in 58th position with a fortune of 160 million ($293m). The Forte group owns the Belmont, Bermudiana and Harmony Hall hotels, in Bermuda.

Trailing his lordship by just a few places in 61st position is one of Bermuda's best known multi-millionaires -- music entrepreneur Mr. Robert Stigwood, whose wealth is valued at 150 million ($275m).

Mr. Stigwood, 57, who owns a 26-acre estate at Wreck Hill, Somerset, ended a 14-year exile in Bermuda in November when he bought a mansion in the Isle of Wight.

The Australian-born businessman made most of his fortune through the Bee Gees pop group and by backing phenomenally successful music composer Mr. Andrew Lloyd Webber during his early days.

His fortune increased with his backing of two major hit films -- Grease and Saturday Night Fever, which both starred John Travolta.

A lot of Bermudian people probably don't know, though, that Mr. Stigwood's current wealth is his second fortune. According to the magazine, Mr.

Stigwood's theatrical agency, which he set up after arriving in Britain in 1959 and was initially a great money-spinner, went bust in 1965.

The person who stands atop Britain's wealthiest people also has Bermudian connections -- The Queen, 66, who is Bermuda's head of state.

Her wealth comes to a staggering 6.5 billion ($11b) as head of state. If one only considers her personal wealth, though, even the Queen has to take a backseat to some of Britain's other rich, with an estimated personal fortune of "only'' 500 million ($915m).