Lots has been written about how much Mark Fitzgerald will be worth after Sherry Fitzgerald is floated on the DCM and AIM early next month. If the £20 million (€25.4 million) suggested valuation proves accurate, then the Sherry Fitzgerald chairman and chief executive's 15.67 per cent stake will be worth £3.1 million.
Incidentally, the 10-day announcement to AIM lodged by Sherry Fitzgerald this week specifically describes Mr Fitzgerald as chairman and chief executive. Whatever happened to the separation of powers and the IAIM guidelines that recommend the chairman and chief executive should be different people.
Who are the other millionaires if Sherry Fitz is worth £20 million? James Meagher's 8.38 per cent will be worth £1.7 million while Killian O'Higgins, Simon Ensor, Philip Sherry, Gordon Gill and David Lewis each own 6.91 per cent of the shares worth £1.4 million. Millionairesses include Claire Cullinan (£1.1 million) and Geralyn Byrne (£1 million). Poor James Barrett and Michael Grehan have to make do with 4.01 per cent stakes worth a modest £800,000.
Of course, all those sums will change when Sherry Fitz shares actually begin trading.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)