9 BILL IVES & FAM­ILY

Essex Life - - Richest 50 -

Industry, £350m

Bill Ives started Rain­ham Steel in 1973 as a new and reusable steel sup­plier. The com­pany di­ver­si­fied and started to tar­get builders and builders’ mer­chants in the 1980s. Prof­its at Es­sex-based Rain­ham fell to £3.2m profit in 2013-14. But adding Ives’ salary to the bot­tom line pushes the profit to £9m and jus­ti­fies a £170m val­u­a­tion. Hefty in­vest­ments and prop­erty as­sets take Ives to £350m.

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