Cavan company owners remain high on Rich List

‘Money is fickle’ or so the old adage goes, but several Cavan business men still retain their place on the recently published Times annual Rich List.
Its not long ago since Ballyconnell magnate Sean Quinn and his construction-led manufacturing businesses earned him a place as Ireland’s richest man, rubbing shoulders in the upper echelons of the list.
However, now its left to other local business personalities to take up the mantle, Eugene Murtagh, Chairman of Kingspan, the world’s leading manufacturer of high performance thermal insulation being the highest listed.
Up six places from 2012 to 25th in the Irish Rich List, Mr Murtagh, who has a 17.8% stake is now said to have a estimated fortune totalling €352m.
He also owns a London Hotel and Carraig Capital, an investment company, while past share sales, salary and dividends total almost €100m.
Next in line is Cavan man Mick Crossan, owner of Powerday who amassed his fortune through  recycling and waste management.
Mr Crossan had been listed at number165 in the UK’s Times Top 250 Rich List with ?50m to his name, however, he’s dropped from that in 2012 with his estimated fortune now standing nearer ?45 (€53).
Founded in 1980 by Crossan who, though born in London, spent many childhood summers in Maudabawn, Drumgoon where his late father Jack (JJ) hailed from, Powerday is also the proud sponsor of the London Irish Rugby Team.
Elsewhere, Monaghan brothers Gerard and Gary McCaughey who netted £48m from the sale of Century Homes, one of Europe’s largest timber-frame housing companies, to Kingspan remain in the list with ?40m (€47m) to their names, while Hugh McNally has propelled his wind turbine and construction business to earn him as new entry on the list with a fortune of ?35m (€41m).