5. Dermot Desmond
Dermot Desmond is an Irish businessman and financier. He is estimated to be worth €1.35 billion and is ranked by the Sunday Independent as the seventh-richest person in Ireland
Desmond was born in Macroom, County Cork in 1950 and grew up in Marino, Dublin. He was educated at Scoil Mhuire, Marino and Good Counsel College in New Ross. He left school in 1968 to work at Citibank in Dublin.
In 1968, Desmond’s business career began with Citibank in Dublin, followed by Pricewaterhouse Coopers in Kabul, Afghanistan.
In 1981, he founded National City Brokers in Dublin. The company competed with already established stockbroking names in Dublin such as Davy’s and Goodbodys. Desmond sold the company to Ulster Bank in 1994, which at the time was part of the National Westminster Group, for a reported £39 million. Subsequently, as a result of Natwest’s takeoever in 2003 by RBS, NCB was bought out by its management with the support of former billionaire businessman Sean Quinn who is believed to now control 25% of the company.
His estimated net-worth as at now is $1.9 billion.