Stockport born Philip Day, worth £1.2bn and CEO of one of the UK’s largest retail groups, has once again been named as one on the UK’s richest people, ranking 8th in the North West by the Sunday Times Rich List.
According this morning’s Business News Northwest, the 15 richest people in the North West are now worth a combined £38bn as featured in the latest Sunday Times rich list.
The 31st annual Sunday Times Rich list is published this weekend and a snapshot of the region has revealed that the region is now home to 12 billionaires.
Born on a Stockport council estate, Mr Day, 53, turned down a place at university to start his career in clothing manufacturing.
In 2001, he joined Edinburgh Woollen Mill and led a buyout of the company.
He later bought home furnishing company Ponden Mill and soft furnishings company Rosebys, golfing brand ProQuip, women’s fashion retailer Jane Norman, outfitters Austin Reed and Country Casuals, and British fashion brand Jaeger.
Now based in Dubai, last year he watched his wealth rocket by £50m over the previous 12 months.
The annually-published Sunday Times Rich list charts the wealth of the 1,000 richest people in the UK and is based on identifiable wealth, including land, property, other assets such as art and racehorses and significant shares in publicly quoted companies.
It excludes bank accounts, to which the newspaper has no access.