The value of Sir Richard Branson’s stake in Virgin Media has fallen to £240 million. The Sunday Times Rich List 2008 says Sir Richard’s stake in the cablenet has “suffered particularly” contributing to a fall in his wealth from £3,100 million in 2007 to £2,700m in 2008. In July 2007, the tycoon’s share in the company was worth £350.8m.
Also appearing on the list is Sir Terry Matthews, owner of IPTV operation Inuk, who made his £950 million fortune from the sale of Canadian telecoms company Mitel to British Telecom and later Newbridge Networks that was sold on to Alcatel.
David Hood, the 60-year old co-founder of Pace Micro Technology, and still the company’s biggest individual shareholder benefited from the technology company’s recent reversal of fortune and some astute investment to increase his wealth by £10m to £250m. Hood’s former business partner Barry Rubery, who has recently made a return to the business as CEO of Electra Entertainment, is valued at £122m.
London-based Christina Stenbeck, the 31-year old daughter of Jan Stenbeck, and her three siblings were handed control of Kinnevik and Modern Times Group on the death of her father. Stenbeck’s wealth estimate is unchanged at £387m.
