Fortune 50: 4th: John Hargreaves and family

John Hargreaves

4: John Hargreaves and family, £450m

Matalan, the discount clothing chain John Hargreaves founded in 1985, has enjoyed a resurgence thanks to the recession.

Sales of around £1bn in the years to March 2007 and 2008 have been converted into dividends of £5m and £25m respectively as profits increased 90% to more than £50m.

Hargreaves wealth has fluctuated massively as his company’s fortunes have endured a roller- caoster ride. The retailer was worth a staggering £3bn at the peak of its stock market years.

Hargreaves retains a hands-on role.

Share