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Biting the hand that feeds IT

Net millionaires crash Sunday Times wealthiest Britons list

And it's all down to stock trading

The Sunday Times' annual rummage through the bank statements of Britain's most well-off has unearthed some wealthy characters and a new breed sterling tycoons who have made their pile from the Net. Paul Sykes, who saw his £10 million investment in the ISP Planet Online swell to £47 million after it was acquired by Energis for £75 million last year, is estimated to be worth £400 million. He tops the list of Internet millionaires by 182 places and a cool £300 million comfortably beating the twin daughters of the late Robert Maxwell by a long chalk. Christine and Isabel Maxwell, together worth £100 million and ranked joint 227 out of 1000, started the McKinley Group, which was sold to portal Excite for £12 million in 1995. Their real wealth came about earlier this year when their 850,000 shares in Excite netted them around £100 million after the portal was acquired for more than £4 billion by @Home. According to the author of the The Sunday Times' Rich List the rise of the high-tech millionaire is "dominant feature this year". "When the Rich List started in 1989, there were fewer that ten hi-tech tycoons," wrote Philip Beresford in the introduction to this year's report. "This year we have ten Internet multi-millionaires alone," he said. Elsewhere, hi-tech industries accounted for 96 multi-millionaires in the UK -- almost ten per cent of an elite league table worth an estimated £115 billion. ®

Free report. "Comparing Data Center Batteries, Flywheels, and Ultracapacitors: What is the best energy storage for you?"

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