£417m Hull City owners Assem and Ehab Allam climb rich list
THE Allam family fortune has rocketed by £130 million, with the Hull City owners climbing up the Sunday Times Rich List.
The Allams are now worth £417 million, up from £287 million last year, making them the 214th richest people in the UK.
The increase means the family, who own generator firm Allam Marine in Melton, have also broken into the top ten richest in Yorkshire at seventh place.
As reporter, East Yorkshire billionaires Malcolm and Eddie Healey have again topped the region's rich list.
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The Allams, who took over ownership of Hull City in December 2010, rose to 214th from 272nd last year.
Assem Allam has made several philanthropic gestures in East Yorkshire, including providing support to several local grassroots sports clubs and making donations to the Hull Truck Theatre, as well as becoming a trustee of the Daisy Appeal at Castle Hill Hospital.
Ian Coxon, who edited the rich list, believes the future is rosy for the Allams.
He said: "Allam Marine was a very profitable company, making £22.6 million last year. It increased its value to £331 million.
"Mr Allam also has £65 million worth of property and other assets.
"It is a very strong family business and industrial marine generators are very much in demand. Off-shore businesses which supply global demand are doing very well.
"Allam Marine is very much in this category."
Mr Coxon does not believe owning a football club is a drain on the family's resources.
He said: "These days owners of football clubs ring- fence money rather than plough all their personal wealth into it.
"Clubs are run like businesses these days.
"Owners have learnt from past mistakes."
The Healey brothers have maintained their £1.5 billion fortune but slip from 40th to 42 in the rankings.
Eddie and Malcolm, who both live in Ellerker, retain their top ranking in Yorkshire.
Their wealth rose by £250 million in 2010-11 to propel them to the top of the Yorkshire list last year.
Mr Coxon said: "The Healy brothers remain two of the wealthiest people in the country.
"While they have dropped a couple of places, they continue to have many irons in the fire."
The Rich List is a compilation by the Sunday broadsheet, detailing 1,000 wealthiest people in the UK, the richest Britons living abroad and the richest people in the world. It is in its 24th year.
Overall, the wealth of the top ten tycoons in Yorkshire stands at £7.22 billion – down on 2011's value of £7.25 billion.
Also featured in list is include The Earl of Halifax, who lives in Garrowby Hall, north of Pocklington.
His ranking dropped from 843 to 864 although his fortune of £84 million remained the same.
Nicholas Oughtred, who chairs the Hull-based William Jackson Food Group, joined the Earl of Halifax on 864, climbing from 871 last year place last year with a fortune of £86 million.
Technology tycoon Peter Wilkinson, who funded Adam Pearson's purchase of Hull City, dropped to 266 from 255 but with the same £302 million fortune.