Sir Michael and Dermot Smurfit and family
Sir Michael heads the Smurfit family, which made its fortune out of global packaging. The Lancashire-born businessman, 80, admits to having lost a “huge personal fortune” in the 2008 crash, having helped turn Smurfit Kappa, the quoted Dublin-based integrated packaging group, into a global giant before retiring in 2007. We can see a 0.48% holding in the business still owned by the family with a value of €28m. Smurfit’s other assets include an art collection containing top pieces by Louis Le Brocquy and Jack B Yeats. Last year Michael and his brother, Dublin-born Dermot, 72, sold their 27.5% stake in the paper group Powerflute in a €315m deal. The Smurfits should have netted €86.7m. Dermot was appointed chairman of John Menzies, the Edinburgh-based baggage handler and newspaper distributor, last July. Michael’s family also owns the €67m K Club, the Ryder Cup venue in Co Kildare. He has a €5.8m mansion on the course and another home in Monaco, where he is resident. He also owns the superyacht, the Lady Ann Magee, believed to be worth around €61.7m. Dermot’s son, also called Dermot, 42, has a 13% stake worth €4.1m in the London-quoted gambling software company Games Account Network (GAN). He runs the company, which is valued at €31m. His cousin, Michael Jr, 52, owns 15.5%, worth €4.8m, and Michael’s brother Tony, 53, has 6.72%, with a value of €2.1m. The actress Victoria Smurfit, now living in Los Angeles, is the daughter of Dermot Sr.