The Earl of Iveagh and the Guinness family
Ned Guinness, the Earl of Iveagh, 47, is thought to grow 10% of all the onions eaten in the UK at his 22,000-acre Elveden estate in Suffolk. A direct descendant of Arthur Guinness, the man who invented the legendary black stout in 1759, the Co Kildare-born earl grew up at the family mansion, Farmleigh, in Dublin’s Phoenix Park, which was sold to the state for €29m in 1999. Guinness moved to England in 1991, inheriting his title, and about €73m in Guinness shares, a year later. We assume the wider family stake in Diageo may be worth €270m after a good run over the past year. The family has €58m of net assets in two companies, Elveden Farms and Burhill Estates (up €7m). In Canada, the family’s British Pacific Properties owns 2,400 acres.The stake should be worth perhaps €470m with another €117m for past sales.