John Whittaker is the richest resident of the Isle of Man, according to the Sunday Times Rich List which will be published this weekend.

He is the Island's only billionaire with wealth estimated at ?2,300million. Jim Mellon (pictured) is the second richest local with a ?850million fortune, while Trevor Hemmings is said to be worth ?625million.

Whittaker's Peel Group has been a giant on the northwest property scene for four decades. He owns the Trafford Centre, donated ?12.5million towards the cost of building the Imperial War Museum North, and is the majority shareholder of Pinewood film studios.
Mellon's investments have grown by ?50million in the past year, according to the Rich List. The former Hong Kong fund manager has a substantial property portfolio in Germany and is investing in biotechnology companies.

Seventy eight year old Hemmings owns Preston North End football club and has owned two Grand National-winning horses. Also on the list are Island residents Mark Shuttleworth, John Morphet, Leonard Polonsky and George Moore.

The top three are described in the Rich List as property tycoons. The annual list is based on identifiable wealth, including land, property and assets such as art and racehorses, or significant shares in publicly quoted companies.

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