2:14 pm, May 19, 2023
Cargiant owner Geoffrey Warren is the wealthiest person in the country to make their fortune from car sales.
That is according to the 2023 Sunday Times Rich List which was published in full today (May 19).
The exclusive list of the 350 richest people in the UK revealed that Warren, who founded Cargiant in 1976, is now worth a whopping £2.552bn.
The figure gives him the same net worth as 12 months previously, although he has slid down the rankings from 68th to 70th position.
Cargiant, the world’s largest independent dealership, finished 17th in last year’s Car Dealer Top 100 rankings, with an EBITDA of £30.386m.
At the top of that pile came Arnold Clark, with profits of £398.1m and the Scottish outfit’s owners certainly reaped the rewards of that success.
Lady Philomena Clark and family and her family moved up an impressive 44 places to 91st on the Sunday Times list, with a net worth of £1.891bn – a £624m rise on 2022.
Also making the top 200 was Lord Edmiston, chairman and founder of IM Group. The Sunday Times calculates his net worth being £334m higher than last year at £1.097bn. His wealth sees him move up 54 places to 162nd.
Elsewhere, there were several returning entries onto the list from the world of automotive retail, reflecting the outstanding year enjoyed by so many dealer groups.
The Marshall family came in 209th place with a net worth of £830m and the Tordoff family, who own JCT600, were tied in 309th with £450m.
In the most recent Car Dealer Top 100, Marshall Motors came in 6th, with profits of £106.14m. Meanwhile, JCT600 made £58.34m, placing it in 8th.
New entrants in the Sunday Times list included Richard and Christine Teatum, who own Stoneacre as well as Douglas Brown and his family, who have made their money through Eastern Western.
The Teatums have a reported net worth of £440m and with Douglas Brown and his family worth £350m. They placed in 317th and 345th respectively.
Notable absentees from the list included Cazoo boss Alex Chesterman, who last appeared in 2021 when he was worth £750m.
