The Saatchi brothers rocketed up the Sunday Times Britain’s Richest 500
league table for 1996, published at the weekend.
In the year following the ousting of Maurice Saatchi from Saatchi and
Saatchi - the agency he founded with his brother, Charles, in 1970 - the
brothers’ combined wealth more than doubled to pounds 165 million,
according to the report.
But the Saatchis’ high ranking at joint 91st owed more to Charles’s
modern art collection and Maurice’s stake in the multimedia company,
Megalomedia, than to the success of M&C Saatchi, which the Sunday Times
valued at pounds 20 million.
The Saatchis were the only advertising folk in the top 500, which was
nevertheless littered with media owners. A marked increase in the value
of the Daily Mail and General Trust, the holding company for Associated
Newspapers, helped its owner, Viscount Rothermere, into poll position
within the advertising and media industries. Despite falling profits due
to the increased cost of newsprint, Rothermere’s wealth rose from pounds
650 million last year to pounds 1 billion, making him joint eighth
Conrad Black, the majority owner of the Telegraph Group, was another
newspaper owner whose wealth rose sharply. Black saw his value grow from
pounds 160 million to pounds 250 million. His 63.7 per cent stake in the
Telegraph, estimated at pounds 180 million, puts Black in joint 55th