Sports Direct boss Mike Ashley lost £27 million in the last 12 months but remains among the richest people in the country, a new report reveals.
The revelation in the Sunday Times Rich List 2020 confirms the controversial retail owner, whose firm is headquartered in Shirebrook, is now worth £1.95 billion.
It has been a tough few years for the Newcastle United owner, as he lost £450 million last year, mainly due to a spending spree which saw him take control of many high street businesses, while his 30 percent stake in Debenhams became worthless.
The Rich List overall shows it has been a mixed year for the super rich in the East Midlands.
Tony Langley, whose firm Langley Holdings is the sixth biggest in Nottinghamshire, saw his worth rise £50 million to £1.4bn.
Mr Langley first got going in business in 1975 and taught himself engineering while running a company making a range of machinery including electrical systems for data centres and welding equipment.
Today his business has a turnover of £803 million and more than 4,200 employees.
Meanwhile, businessman David Ross appeared to have endured a tougher year as his fortune fell £26 million to £642m.
Born in Grimsby, Lincolnshire, Mr Ross obtained a law degree at the University of Nottingham and he has since become one of the institution's largest donors. He was the major funder for the £40 million David Ross Sports Village at the university's Park campus.
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He is one of the co-founders of Carphone Warehouse.
But it was a good year for William Parente and family as their worth increased £8 million to £365m.
Mr Parente inherited 62,000 acres of the East Midlands in 2008, which includes the 15,000 acre Welbeck Abbey estate, which straddles the Nottinghamshire and Derbyshire border.
There was no change for philanthropist Sir Harry Djanogly and family, who are still worth £300 million.
The Rich List features 1,000 people and shows in the last year they have collectively lost £54 billion.
List compiler Robert Watts said: "Ever since the financial crisis of 2008-9, Britain's wealthiest people have become richer and richer.
"Covid-19 has called time on their golden period. This year's rich list paints a picture of Britain on the brink of calamity - two months after lockdown and already billions of pounds have been wiped out.
"You may not like the super-rich, but it is hard to deny that our economy will need the jobs they create and the taxes they and their companies pay if we are to escape a prolonged recession that causes further misery to millions."
The full list covering the wealthiest 1,000 people in the UK will be published on Sunday in a 136-page edition of The Sunday Times Magazine.
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2020-05-17 06:37:00Z
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