Revealed: How Peter Stephenson placed in the North East Rich List

The North East Rich List, as revealed by the Sunday Times.
The North East Rich List, as revealed by the Sunday Times.

Able UK chief Peter Stephenson is the highest new entry in the North East Rich List.

Mr Stephenson, 68, founded and owns Able UK after he set the business up from home in 1966 and today the operation, which hit the headlines during the Ghost Ships saga, is worth £200m.

It has five river sites on the Tees, including Seaton Port on the outskirts of Hartlepool, and two on the Humber estuary, where it also provides port and logistics services.

Mr Stephenson is the highest new entry at eighth in the North East Rich List, compiled by The Sunday Times Rich List 2016.

Further afield Sunderland football club owner Ellis Short has seen his fortune grow by £200million in a year - but there’s bad news for Newcastle United supremo Mike Ashley, who saw his own wealth cut by £1BILLION!

New figures, which is due to be published this weekend, show the last 12 months have been a contrasting period for the two football chiefs.

Mr Short, 55, now has a personal wealth of £1.2billion, which ranks him the 90th richest person in the country.

Mr Ashley, 51, remains the richest man in the North East with a fortune of £2.43bn and is 45th overall in the country, despite a £1.07billion loss.

Elsewhere, Sir Peter Vardy is equal 13th on the regional list, despite seeing his fortune fall by £5million to £170million.

The Fenwick retail fortune continues to grow with Mark Fenwick and family now standing at £700m, up £50m on last year.

And Dame Margaret and Helen Barbour and family are up to seventh on the North East list, seeing a £15million rise in their wealth to £335million.

Middlesbrough football club chairman Steve Gibson has seen a 50% rise in his fortune from £130million to £195million. Others on the North East list include musician Sting, entrepreneur Duncan Bannatyne and the Duke of Northumberland.