The Insider Rich List for the Midlands ranks 100 entrepreneurs from the Midlands based on their net worth. There are many familiar names and companies on the 2022 Rich List - like Lord Bamford and family, Sir Tony Gallagher and others - with the 2023 listing to be released in the coming weeks.
From Bet365 founder Denise Coates and her family to Walsall-born Frasers Group founder Mike Ashley - the Insider Media rich list not only ranks the wealthiest people, but also shows whether they have gained or lost some of their fortune. Similar to the Sunday Times Rich List this too is published annually. It will reveal who has been the top gainer or loser in the Midlands for the year 2022-23.
How Insider Media came up with the list
Insider Media said: “Our Rich List sets out to document the fortunes of the Midlands’ 100 wealthiest individuals and families. Private company stakes were valued on multiple of pre-tax profits of between eight and 12 times - or a occasionally with an equivalent quoted company or failing that by the prevailing prices in the sector.
“Where it was appropriate, companies and therefore family stakes are valued on the net assets of the business. All stakes in quoted companies were valued by taking the share price in the Financial Times in September 2022. We usually exclude salaries from our calculations, but do include dividends - which are often reinvested to buy assets.”
You can find the full list of 100 wealthiest people in the Midlands in 2022 via the Insider Media website. Here are the top 14 business leaders from the Midlands on the list:
9. Lord Edmiston
2022: £1.1bn, 2021: £766m - Lord Edmiston’s IM Group is Solihull-based. The Tory peer also set up housebuilder Spitfire Homes. (Photo - Google Maps) | Google Maps
10. Ben Francis
2022: £1.075bn, 2021: £840m - Solihull-based athleisure brand owner Francis worked as a pizza delivery boy and studied at Aston University before teaming up with school friend Lewis Morgan to launch Gymshark. He is the tenth richest in the Midlands. (Pic:Gymshark) | Gymshark
11. Caspar MacDonald-Hall and family
2022: £1bn, 2021: £881m - MacDonald-Hall and family have a vast property empire: Kingswinford-based LCP - which owns more than 410 sites. (Photo - Google Maps) | Google Maps
12. Roy Richardson and family
2022: £945m, 2021: £895 - Richardson and his late twin Don began their property business after the Second World War. Today the Oldbury-based operation is run by his sons Martyn, Lee and Carl Richardson. (Photo - Richardsons) | Richardsons