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[citation needed] His aunt Mary Elizabeth Hallinan married Rupert Watson, 3rd Baron Manton, Senior Steward of the Jockey Club 198285,[3] effectively the chief executive of the British horse racing industry. He is Ireland's leading thoroughbred stud owner and has extensive business interests outside the horse-breeding industry. From the latest transfer news to the agenda-setting stories, get it all in your email inbox - don't miss a thing. Last December, the arts minister Lord Stephen Parkinson commended the National Portrait Gallery for all it is doing to keep this spectacular work in this country for the public to enjoy and learn from. To see all content on The Sun, please use the Site Map. Or by navigating to the user icon in the top right. The Irishman's son, John Patrick Magnier, is due to ride the much-fancied Rhinestone Cowboy in the Smurfit Champion Hurdle, the big race on the opening day. But the partnership found it next to impossible to buy into his gene pool: "the Americans always outbid us", said Sangster. 3 John Dorrance: 2.6 billion (No change) Dorrance is the American-born grandson of the creator of the formula for Campbell's condensed soup. "It was for anyone working between Ballydoyle and Coolmore who wanted to bring their families here. The connection between the families was cemented when Magnier married O'Brien's daughter, Susan.Magnier's breakthrough was to realise that the "gentlemanly pursuit" of breeding and owning thoroughbreds could be "professionalised to generate whopping returns", says The Sunday Telegraph. Vaizey told the Observer: Id love to see the Omai saved for the nation. . You'll receive an email with all of the top news stories every single morning. Magnier picked up his share of a cool $9m when the Minstrel (bought for $200,000 in 1975) was sold back to America for stud. A spokesman for Coolmore declined to comment. Places are being done up for them.". We are no longer accepting comments on this article. To inquire about a licence to reproduce material, visit our Syndication site. It had hung for over 200 years in Castle Howard in Yorkshire, where the TV adaptation of Brideshead Revisited was filmed. 1 Hilary, Alannah and Galen Jr Weston and family: 11.93 billion (Up 512 million) At the top of the table are the Westons, who run a transatlantic retail empire from Europe to Canada, which includes businesses such as Penneys, Brown Thomas, Selfridges and Fortnum & Mason. The operation also has branches in Versailles, Kentucky and at Jerrys Plains, New South Wales, Australia. His eureka momenAlthough John Magnier made his fortune breeding champion race horses, his shrewdness and toughness would have taken him to the top of any business. 'I looked at her and I was like, "Oh my God!" Bloodstock billionaire Magnier paid 10.5m for the painting at a Sothebys sale but later, in 2003, an export licence deferral allowed a matching bid to save it for the nation, following a campaign spearheaded by Sir David Attenborough. Rewards valid for 30 days. To inquire about a licence to reproduce material, visit our Syndication site. Omai was bought at Sothebys for 10.3m by the British art dealer Guy Morrison, who then sold it to the Swiss company Settlements SA, which was controlled by Magnier. ', The coroner added: 'You were so distressed that you even rang to coroner's office, didn't you? Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. 16 Paul Coulson and family: 1.1 billion (Down 504 million) Coulson founded investment and aircraft leasing firm company Yeoman International Group in 1982. Photograph: Alan Crowhurst/Getty Images for Ascot Racecourse. However, that has been the position for some time, and the gallery has been fundraising for almost a year. Racing horse magnate JP McManus's son John allegedly took cocaine on a night of hard partying before his wife's sudden death in Barbados aged just 40. Magnier later moved to Fethard, County Tipperary, where he transformed Coolmore Stud into a multi-million-euro international business. Begambleaware.org. Magnier began his association with Coolmore in partnership with his father-in-law and champion racehorse trainer, Vincent O'Brien, and Vernon's Pools magnate, Robert Sangster. Most are reliant on bequests and long loans by collectors. Given that a horse can produce offspring well into his 20s, the partnership reckoned on making some $80m from Alleged's earnings alone - money that was swiftly channelled into more top prospects. Magnier owned a 28% stake in United until selling the shares to American businessman Malcolm Glazer in 2005. Well then sign up for the brilliant Daily Star football email newsletter! The imminent reappearance of Omai at the Rijksmuseum follows a report by Art Fund and the Wolfson Foundation warning that most British museums and galleries, priced out of an inflationary art market, are unable to buy to extend their collections. "My family who are there are seeing it all with their own eyes. No free bet expiry. We have been reassured that the owners will accept a matching offer and we have no reason to doubt this.. Magnier refused to sell to the Tate, which had raised 12.5m thanks to an anonymous benefactor. Certainly, conditions in Ireland in the early 1970s couldn't have been better: in 1969, finance minister Charles Haughey had pushed through legislation giving stud fees tax-free status. The amazing initiative was the . Chris Boxall of Fundamental Asset Management highlights three high-yielding shares to buy that could help lower your IHT bill. Only horses among the yearling crop of star stallion Justify - the unbeaten superstar of US racing who won connections 2,813,333 - were eligible. Sheikh Mohammed, pictured, and John Magnier contribute nine of the 19 runners in Saturday's Derby at Epsom. And if his Twitter account is anything to go by, it looks like a lot of fun too. The Art Fund, a charity, is working with the National Portrait Gallery to raise the 50m and has awarded an exceptional grant of 2.5m towards the purchase. But the real profits came from the stallions, like Alleged, says The New York Times. John Magnier Shows Support for Justify Down Under The son of Scat Daddy was shown off Aug. 19 during Coolmore Australia's virtual show. 6 Denis O'Brien: 2 billion (Down 1.8 billion) The foundation of O'Brien's fortune was the Esat consortium, which was awarded the State's second mobile phone licence in 1996. Supermarket magnate Galen Weston and his wife Hilary at the funeral of Penneys/Primark founder Arthur Ryan. Kingspan has grown through acquisitions and has 100 manufacturing facilities in some 70 countries. Former Man Utd owner and racing billionaire John Magnier has rescued Ukrainians from their war-torn country Credit: Getty. He is Ireland's leading thoroughbred stud owner and has extensive business interests outside the horse-breeding industry. George Washington proved infertile, was returned to racing, and suffered a fatal breakdown in the 2007 Breeders' Cup Classic. It marks a key moment in the stylistic development of portraiture in the 18th century, and bears witness to the story of empire, exploration, and exploitation, too.. The business plan was based on Magnier's conviction that the big pay-off in racing no longer lay in prize money, but "in the breeding barn". Annabel, who is from Croughton in Northamptonshire but now lives and trains in Australia, proudly posed for a photo with the jaw-dropping supercar. Born in 1948, the son of "well to do" farmers, he grew up near Fermoy in County Cork where his family had been breeding horses since the 1850s. Free bet stakes not included in returns. NHMFs view was that we would wish the painting to be fully accessible to a UK audience, it said. 'Nope that is incorrect,' said McManus, who also denied having a 'convenient memory'. No cash-out, restrictions & T&Cs apply. All rights reserved. Ironically, when the 18th-century Omai painting was put on the market in 2001, it was because the then owner, Simon Howard, faced a huge tax bill after his divorce. BILLIONAIRE racing titan and former Manchester United owner John Magnier watched as his son gave a lucky horse trainer the keys to a brand new 250,000 Ferrari. John Magnier Locals oppose Magnier plan for hotel extension close to the Rock of Cashel Cashel normally supports billionaire family but development raises a range of concerns including that. Begambleaware.org, News Group Newspapers Limited in England No. I've had enough of life': Grandmother, 86, is reduced to tears after killjoy Tory Hairy Bikers star Dave Myers speaks out on his deep depression after chemotherapy which left him having Top equestrian rider, 39, once known as the 'golden girl' of horse eventing, is facing jail after being My boss is furious I didn't give my first class seat to her and left her stuck in economy - despite the fact How the 'cha cha' will do wonders for your bowel and cabbage juice is a miracle cure. 18+. Tom couldn't hand himself the keys to the car - so instead gave them to winning trainer Annabel Neasham. Justify covers around 200 mares a year at a cost of 83,000 a go. Since the best bloodstock was to be found in America, they would buy up the best yearlings there, bring them to Ireland, race them, and develop them into prize stallions at a tax-free profit. Free bets are non withdrawable. The 70-year-old is at the heart of the world-famous Coolmore Stud and also holds stakes in UK nursing home group Barchester. An expensive intervention by the British government would seem unlikely, given the state of the economy, but equally it could face heavy criticism if Omai permanently leaves its shores. A portrait by Sir Joshua Reynolds of a young Pacific islander who became Britains first black celebrity in the late 18th century is at the centre of a controversy over where it should be housed, as it emerges that the work is heading to an exhibition in a major European gallery. The following year its owner applied for a temporary export licence to take the painting out of the UK for 15 months, but the arts minister, Ed Vaizey, refused. Today, Alltech is a $2 billion company, with more than 5,000 employees supporting its business presence in over 120 countries. The Magniers, meanwhile, have continued to rumble on as arguably racing's most influential family, with stud farms located in Ireland, America and Australia. Within weeks, billionaire John Magnier, best known for his horse racing interests, will have freedom to take one of Britains finest treasures abroad, or else to enjoy a 50m (56.2 million) cheque from the National Portrait Gallery in London. The strength of thoroughbred talent residing at Coolmore is indicated by the fact that eleven of the fifteen winners of the blue riband of the turf, The Derby, between 1998 and 2012 were sired by Coolmore stallions (High Estate, Fairy King, Grand Lodge, Sadler's Wells (two), Danehill, Montjeu (four) and Galileo). 5 Dermot Desmond: 2.02 billion (Down 40 million) Desmond founded National City Brokers in Dublin in 1981, which was sold to Ulster Bank in 1994 for a reported 39 million. John Magnier (born 10 February 1948; also known as "The Boss") is an Irish business magnate. Compltement Cram ! See a gallery of the world's most expensive paintings, Leonardo da Vincis Salvator Mundi sold for $400 million at Christies ($450.3m, including auction house premium), One of four versions of The Scream created by Munch and the only one that is privately owned. Back in 2001, he had a conversation with Irish businessman John Magnier which led him to believe he owned half of a horse called 'Rock of Gibraltar'. Photograph: Dara Mac Donaill / The Irish Times. Compltement Cram ! County Cork, the eldest son of Thomas Magnier (1909-1962) a County Cork landowner (son of Michael Joseph Magnier of The Manor . Omai returned to Britain, as agreed, in 2011. But the real profits came from the stallions, like Alleged, says The . The comments below have been moderated in advance. The billionaire businessman paid for the group to leave the war-torn country after . How he found the cashThe catalyst that lifted the young Magnier into the big time was his friendship with Robert Sangster, heir to the Vernon football pools fortune. Max refund for this offer is 20. Today, his main business is in telecommunications with Digicel, which operates in 31 markets, mostly in the Caribbean, Central America and the Pacific islands. 11 Sir David McMurtry: 1.47 billion (Down 50 million) McMurtry co-founded UK-headquartered precision engineering business Renishaw. 9 John Magnier and family: 1.72 billion Magnier is an Irish business magnate and one of Ireland's leading thoroughbred stud owners. He moved to Ireland in the mid-1990s. A decision on the licence was deferred for four months, to see if anyone in Britain would express a serious intention of buying it. In 2012, O'Brien and Joseph became the first father-son/trainer-jockey pair to . "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. It is presumed that, since then, the painting has been locked in storage in the UK. The value of Omai shown on the export licence application was 50m, a figure independently confirmed by the British art dealer Anthony Mould, and then accepted by the secretary of state as being its fair market price.