Surrey's richest 50 2009: No's 40 to 31
PUBLISHED: 17:09 05 April 2012 | UPDATED: 16:06 20 February 2013
Not surprisingly, it hasn't been the greatest year for Surrey's millionaires, with many of them losing a sizeable chunk of their fortunes - but, put it this way, we don't need to worry for their welfare just yet... Here, for the third time, we bri...
Originally published in Surrey Life magazine June 2009
Not surprisingly, it hasn't been the greatest year for Surrey's millionaires, with many of them losing a sizeable chunk of their fortunes - but, put it this way, we don't need to worry for their welfare just yet... Here, for the third time, we bring you our annual guide to the wealthiest people in the county, compiled by the writer of the Sunday Times Rich List, PHILIP BERESFORD
40 Ted Smart, 66
38m (last year 68m)
One of the most powerful men in British publishing, Ted Smart founded his Godalming-based business, The Book People, in 1988.
In short, the company selects a few best-sellers, buys in bulk and then sells them at bargain basement prices - and it works. In 2002, Smart sold a 15 per cent stake netting 12m. His remaining stake was valued at 60m.
In today's world, we cut the value to 30m, adding 8m for the sale proceeds.
38= Pete Townshend, 64
40m (last year 40m)
In 1963, Pete Townshend gave up his work as a graphic designer to help form The Who. The band became rock legends with hits such as My Generation and Tommy and Townshend was their primary songwriter throughout.
As well as touring regularly, The Who will be placed firmly back in the limelight this year, with Townshend's masterpiece Quadrophenia touring the UK as a full-scale theatre production - with Townshend on board as a creative consultant. Overall, with his 6m housing assets, we value Richmond-based Townshend at 40m.
38= Sir Cliff Richard, 68
40m (last year 50m)
In 2008, Sir Cliff Richard celebrated 50 years in show business with the release of his autobiography, My Life, My Way. There was also a tour and the release of a 50th anniversary album. Richard will also tour with the Shadows in late 2009.
Based in Virginia Water, Richard also has a Barbados house to supplement his Portuguese set-up where he recently opened a commercial vineyard.
Back in England, his company, Balladeer, paid out some 12m in salaries between 1999 and 2005, virtually all going to Richard. Since then, it has only published abbreviated accounts, though its net assets fell from 4.6m to 2.5m in 2007-08.
As he has never written his own songs, Richard has missed out on this lucrative income stream. But the royalties from his 250 million record sales over the course of his career (including more than 150 singles, albums and EPs) easily give him wealth of around 40m in the current climate.
36= Chris Ingram, 65, & family
40m (last year 60m)
After seven years at Woking Town FC, owner Chris Ingram announced last year that he was stepping aside at the end of the current season. He still owns the stadium, however, which he hopes to redevelop for the club, and has maintained his local sport interests by investing in Woking-based Azzurri, who run five-a-side leagues around the county.
A local lad, he left school at 16 to become a messenger in an advertising agency. Within ten years, he was a director of a London agency, and in 1976 started his own media buying agency, which grew rapidly and floated on the stock market in 1989. In 2001, it was taken over by WPP, netting Ingram nearly 63m.
Today, Ingram has an 800,000 stake in Vitesse Media, a quoted online media group, and has made a hefty investment at his beloved football club, where he has an 84 per cent stake. In the current climate, Ingram should be worth 40m.
36= Mark Hunter, 46
40m (last year 56m)
A bidding war for the Axon software operation in late 2008 resulted in a handsome windfall for Mark Hunter, the company's founder. Two Indian software giants were chasing the Egham-based company and, in the end, HCL Technologies won the bidding with a 440m offer.
Hunter grew up in Belfast, and after graduating from Queen's with a masters in computing, joined Unilever and then the software giant SAP. In 1994, he set up Axon Solutions and, within 18 months, was turning over 1.5m.
The company floated in March 1999, and Hunter handed over 10 per cent of his shares to staff in 2005. However, his remaining stake and shares in family trusts were worth around 47.7m at the takeover. Hunter sold 3.5m worth of shares at the float and another 4.3m in 2004. Two share sales in 2007 raised 23.5m.
With the decline in asset values, we put him at 40m.
35 Nicholas Vetch, 48
42m (last year 60m)
the stock market turmoil has taken a toll on the Bagshot-based Big Yellow Group chaired by Nicholas Vetch.
From a high of around 700p in early 2007, the share price of Britain's third largest storage group has fallen to 308.5p and Vetch's stake has fallen in line to around 29m in value.
However, since 2005, Vetch has sold over 14m worth of shares and made a gain of 12.2m in exercising share options. In all, he must be worth 42m with other assets.
33= Jim Zockoll, 79
45m (last year 50m)
Hailing from Pittsburgh, Jim Zockoll originally worked as a Pan Am pilot, but in 1963 he went on to start Dyno-Rod.
In 2004, the sale of the Surbiton-based company to Centrica, owner of British Gas, in a 57.6m deal, netted Zockoll 49m.
Unwilling to retire, he still runs The Zockoll Group, which had 576,000 net assets at the end of 2007. In all, with other assets, he should be worth around 45m.
31= Alan Spence, 61
45m (last year 50m)
Having sold his Britannic Travel business for 45m to the Australian group Flight Centre, Alan Spence stayed in charge of the New Malden-based operation until early 2008. He helped the group to a record 8.3m profit on 29.6m sales in 2006-07.
Having begun in business selling candyfloss at Chessington Zoo, Spence went on to work as a shipping agent in the City. At the age of 19, he started his own company, Britannic Shipping Services, later moving into travel.
These days, he is easily worth 45m.
33= Dr Ceri James, 64
45m (last year 45m)
Welshman Ceri James co-founded the Admiral software business above a Camberley coffee shop in 1979. The company grew rapidly after its 1987 stock market flotation, though James stepped down from the board in 1999. He did, however, hold on to his stake in the business.
In 2000, Admiral was taken over by the CMG group in a 1.15 billion deal, and James swapped his Admiral shares for those in CMG. In 2001, his stake was worth 93m.
We assume he sold some shares, and with previous sales, Jones would be worth 45m today. He is also a keen rugby fan and was a director of London Welsh, the rugby club, until early in 2004. He remains a shareholder there, too.
31= Sir Michael Caine, 76
45m (last year 45m)
He may be one of the country's most respected actors, but Sir Michael Caine remains loyal to his adopted hometown of Leatherhead, recently becoming a patron of the local theatre.
Born in South London, the twice-Oscar winner started out on the stage and in television, going on to land a starring role in Zulu in 1963. But it was as Alfie, and later as Harry Palmer in the spy films, that he made his name. More recently, he appeared in the latest Batman instalment, The Dark Knight, and in his new film, Is Anybody There?, he plays the role of an ageing magician called Clarence, who develops dementia. The moving storyline will bring the whole issue out to a wider audience and looks set to win him more great plaudits.
Aside from the movies, he has other business interests, too. He owned 50 per cent of the profitable Coq d'Or restaurants before selling his share for an undisclosed sum, but probably 2-3m. He remains a director.
Though we cannot see much asset wealth in his companies, we still value the distinguished actor at 45m.