Tyrone man worth £400m makes it on to Sunday Times Rich List

A TYRONE businessman is a new entry on the Sunday Times Rich List.

Derek Keys, the owner of Dromore-based Euro Auctions, is worth an estimated £400m, according to the paper’s prestigious list.

This puts him at 312 of the 350 richest people in the UK.

Euro Auctions is primarily involved in plant and machinery auctions throughout the UK and other parts of the world.

In recent days, the company has announced the expansion its ever-growing Canada presence, with the acquisition of North Toronto Auction (NTA) of Innisfil, Ontario, following the recent acquisition of Jardine Auctioneers Inc. of Fredericton, New Brunswick, in March this year.

These two prominent Canadian auction companies joining the Euro Auctions Group strategically cements Euro Auctions’ presence in Canada, underscoring the group’s commitment to delivering national coverage and enhanced customer service across the region.

Jardine Auctioneers Inc and North Toronto Auction, join Michener Allen, the third Canadian auction house in the group, now making five permanent auction sites now operational in Canada.

Mr Keys said he was ‘excited’ to welcome both Jardine and North Toronto teams into the auction community.

“As family-run businesses, we see a strong alignment in the ethos, values, and customer commitment of both Jardine Auctioneers and North Toronto Auction, which mirror our own,” he said.

“The addition of these respected businesses, alongside Michener Allen, who we acquired in 2023, further develops our coast-to-coast presence in Canada, allowing us to deliver unmatched service and reach nationwide.

“We look forward to building on their success to provide even greater value to customers both nationally and internationally.”

Robert Watts, compiler of the Sunday Times Rich List, said the list is changing.

“Our billionaire count is down and the combined wealth of those who feature in our research is falling. We are also finding fewer of the world’s super rich are coming to live in the UK.

“This year we were also struck by the strength of criticism for Rachel Reeves’s Treasury. We expected the abolition of non-dom status would anger affluent people from overseas. But homegrown young tech entrepreneurs and those running centuries-old family firms are also warning of serious consequences to a range of tax changes unveiled in last October’s budget.

“Our research continues to find a wide variety of self-made entrepreneurs building fortunes not just from artificial intelligence, video games and new technologies but also mundane, everyday items such as makeup, radiators and jogging bottoms.

“We know many of our readers find these people and their stories inspiring — especially the many who had tough starts or setbacks to their lives and careers.”

The full list is now available online.