Ireland's billionaires lose €17 billion from fortunes after stock market turmoil

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Businessmen like John (32) and Patrick (34), from the Limerick-Tipperary border, have been affected by turbulence in the tech industry

Ireland's billionaires are worth a colossal €33bn but they lost more than half of their vast wealth in 12 months due to turmoil on world stock markets, it is claimed.

The figure is now put at $50bn after a $6.5bn funding round last month, which still makes the brothers amongst the youngest billionaires on the planet. Desmond was born in Cork and raised in Dublin, where he was an investment banker and stockbroker before helping to set up the country’s financial services hub, the IFSC in Dublin.

 

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