2023 Top 10 Richest People from Barbados and their Net Worth — Curious about the wealthiest individuals in the beautiful island nation of Barbados? In this article, we will explore the top 10 richest people in Barbados and delve into their impressive net worth. From business magnates to industry leaders, this list showcases the financial powerhouses driving Barbados’ economy.
Discover the remarkable wealth amassed by these influential figures and gain insights into their sources of success. Join us as we explore the net worth and success stories of the richest individuals in Barbados.
10. Kyffin Donald Simpson: Estimated net worth – $400 million
Sir Kyffin Simpson, born in 1936 and passed away in 2021, was a highly respected and influential Barbadian businessman and philanthropist. He was the founder and chairman of the Simpson Group of Companies, a well-established conglomerate in Barbados.
Under Sir Kyffin Simpson’s leadership, the Simpson Group of Companies flourished and became one of the leading business entities in Barbados. The company had diverse interests, including automotive sales, distribution, and manufacturing. Simpson Motors Limited, a subsidiary of the group, became the authorized dealer for several well-known automobile brands, contributing to the growth of the automotive industry in Barbados.
In 1976, Mr. Kyffin Simpson founded Simpson Motors and this has laid the groundwork for the group of companies that exists today and which represents such brands as Suzuki, Mitsubishi, Isuzu, Mercedes, Chrysler, Porsche, John Deere, JCB and Ingersoll Rand/Bobcat with a regional network from Bermuda in the north to Guyana in the south and from Central America in the west to Barbados in the East.
In 2005 Simpson Oil Limited (SOL), an affiliate of Interamericana Trading Corporation, headed by Kyffin Simpson made a buy-out of the retail and commercial fuel operations of Shell Antilles & Guiana’s Limited making it the largest independent oil company in the Caribbean. In 2006, SOL acquired Shell’s marketing and retail assets in Puerto Rico building this network even further.
In addition to being Chairman of the Simpson Group of Companies Kyffin Simpson has served as director and shareholder of several major corporations including a charter director of the FirstCaribbean International Bank. He is also a member of the Board of the prestigious Americas Society and Council of the Americas whose mission is to promote awareness of the political, cultural and economic challenges currently facing the Western Hemisphere.
Beyond his business endeavors, Sir Kyffin Simpson was actively involved in philanthropic work. He made significant contributions to various charitable causes, particularly in the areas of education and healthcare. His philanthropic efforts focused on improving educational opportunities for young people in Barbados and supporting healthcare initiatives that benefited the local community.
Sir Kyffin Simpson’s dedication to business excellence and his commitment to giving back to society earned him numerous accolades and honors throughout his lifetime. His contributions to the business sector and his philanthropic endeavors have left a lasting impact on Barbados, making him a highly regarded and influential figure in the country.
9. Chesterfield Brewster: Estimated net worth – $500 million
Chesterfield Brewster is a prominent Barbadian entrepreneur and businessman. He is the founder and chairman of the Goddard Enterprises Limited, a leading conglomerate in the Caribbean region.
Goddard Enterprises Limited has diverse business interests, including manufacturing, distribution, services, and investments. Under Chesterfield Brewster’s leadership, the company has expanded its operations and established a strong presence in various industries across the Caribbean.
Chesterfield Brewster’s entrepreneurial acumen and strategic vision have been instrumental in the growth and success of Goddard Enterprises Limited. The company’s portfolio includes well-known brands and subsidiaries, contributing significantly to the regional economy.
Apart from his business ventures, Chesterfield Brewster has also been actively involved in community development and philanthropy. He has supported various social and educational initiatives in Barbados, demonstrating a commitment to giving back to society.
Chesterfield Brewster’s contributions to the business sector and his philanthropic efforts have earned him recognition and respect in Barbados and the wider Caribbean region. His leadership and entrepreneurial spirit serve as an inspiration to aspiring entrepreneurs and business leaders.
8. Sir Charles “COW” Williams: Estimated net worth – $600 million
Sir Charles Williams, born in 1942, was a prominent Barbadian businessman and philanthropist. He was widely recognized for his significant contributions to various industries in Barbados, particularly in real estate, automotive sales, and shipping.
Sir Charles Williams played a crucial role in the development of Barbados, specifically in the tourism and hospitality sectors. Through his company, the Williams Industries Group, he involved in numerous real estate projects, including luxury resorts, residential developments, and commercial properties. His contributions have helped shape the island’s landscape and contributed to its reputation as a desirable tourist destination.
In addition to his real estate ventures, Sir Charles Williams made a notable impact in the automotive industry. He was the founder and chairman of the Williams Group of Companies, which includes car dealerships representing several leading automotive brands in Barbados.
Furthermore, Sir Charles Williams was involved in the shipping industry, operating a successful shipping company that has facilitated trade and transportation in the region.
Beyond his business accomplishments, Sir Charles Williams was actively engaged in philanthropic initiatives. He made significant donations to various charitable causes, including education, healthcare, and community development projects in Barbados.
Throughout his career, Sir Charles Williams has received numerous accolades for his contributions to the business sector and his philanthropic efforts. In recognition of his outstanding achievements, he was knighted in 2009, earning the title of Sir Charles Williams.
Sir Charles dies in 19th November, 2021 at age 88. Although he is dead, he still remains one of the wealthiest people in Barbados and he is the ninth richest in our list of 2023 richest people from Barbados.
7. Michael Barry Tabor: Estimated net worth – $700 million
Michael Barry Tabor is a British businessman, bookmaker, gambler and owner of thorough bred racehorses.
Tabor regularly appears on the Sunday Times Rich List of the richest people in Britain. In 2012 his fortune was estimated to be £550 million; two years previously the business magazine Management Today had suggested it was $2 billion.
In May 2014 Tabor assumed a 100% control of Victor Chandler International after Victor Chandler sold his interest in the firm.
His racing associations have also extended into other areas of business. With Magnier, Derrick Smith and J.P. McManus, Tabor is one of the co-owners of the luxury Sandy Lane hotel in Barbados.
In addition, Tabor, Magnier, McManus, and another Irish associate and Sandy Lane owner, Dermot Desmond, collectively owned 60 per cent of the Next Generation chain of fitness clubs sold to London & Regional Properties for around £200 million in 2006.
Tabor, Magnier, Smith, McManus and the currency trader Joe Lewis also own a large stake in the Mitchells & Butlers pub chain.
6. Ralph “Bizzy” Williams: Net worth – $ 1 million
Ralph “Bizzy” Williams is a highly respected and influential Barbadian entrepreneur and businessman. Born in Barbados, he has made significant contributions to the country’s business landscape and economic development.
Ralph Williams earned the nickname “Bizzy” due to his energetic and industrious nature. He is the founder and chairman of the Williams Industries Group, a diversified conglomerate with interests in various sectors, including construction, manufacturing, energy, and more.
Under Bizzy Williams’ leadership, the Williams Industries Group has grown into a prominent business entity, playing a vital role in shaping Barbados’ infrastructure and economic growth. The group comprises several subsidiaries, each excelling in its respective field. For example, Williams Industries Inc. focuses on construction and civil engineering projects, while Williams Evergreen focuses on renewable energy solutions.
Apart from his business ventures, Bizzy Williams has been actively involved in philanthropic activities. He has contributed to educational initiatives and community development projects in Barbados, aiming to make a positive impact on society.
Bizzy Williams’ entrepreneurial spirit, dedication to excellence, and commitment to the development of Barbados have earned him widespread recognition and numerous accolades. His contributions to the business sector and his efforts to drive social change have solidified his reputation as an influential figure in Barbados and beyond.
5. Mark Maloney: estimated net worth – $ 3 million
Mark Maloney is a well-known Barbadian businessman and entrepreneur. He is the chairman and founder of the Maloney Group, a leading construction and real estate development company in Barbados.
Mark Maloney has played a significant role in shaping the construction and real estate industry in Barbados. His company has been involved in numerous high-profile projects, including residential developments, commercial buildings, and infrastructure projects. Through his leadership and vision, the Maloney Group has established a strong reputation for delivering quality projects that contribute to the growth and development of Barbados.
Beyond his involvement in the construction sector, Mark Maloney has also been actively engaged in motorsports. He is an accomplished race car driver and has competed in various motorsport events both locally and internationally. His passion for motorsports has led him to invest in developing the Bushy Park Circuit, a world-class motorsport facility in Barbados.
Mark Maloney’s entrepreneurial spirit and contributions to the business and motorsport sectors have earned him recognition and respect in Barbados. His dedication to excellence and commitment to driving economic growth through his various ventures have solidified his position as a prominent figure in the Barbadian business community.
4. Eugene Melnyk: Estimated Net worth – $1 Billion
Eugene Melnyk(born May 27, 1959) is a Canadian businessman who has resided in Barbados since February 1991. He is the current and sole owner, governor, and chairman of the Ottawa Senators professional ice hockey franchise of the National Hockey League (NHL).
He is the founder, former chairman and CEO of Biovail Corporation which was acquired by Valeant Pharmaceuticals. Canadian Business magazine ranked Melnyk 79th with a net worth of $1.21 billion on its 2017 list of Canada’s 100 wealthiest people. He is currently the number 4 on the list of 2022 richest residents of Barbados.
3. JP McManus: Estimated net worth – $1 Billion
Born in Limerick, McManus began his business career at his family’s construction plant hire firm, and then became an on-course bookmaker at Limerick’s Markets Field greyhound track. He later moved into horse ownership and punting and laying horses on the advice of his associate Jimmy Hayes.
In 1982, he and his wife, Noreen, a former mental health nurse, bought Martinstown Stud on over 400 acres (1.6 km2) in County Limerick from the McCalmont family. McManus’s first horse was Cill Dara, which had been owned by the late Edenderry solicitor and gambler, Tim O’Toole. McManus is now National Hunt racing’s largest owner, with over 100 horses in training. In 2006, he built a €20 million residence next to Martinstown Stud. In 2013, he completed a €150 million home in Barbados.
2. Rihanna: Estimated net worth – $ 1.4 billion
Robyn Rihanna Fenty is a Bajan singer, songwriter, actress, and businesswoman. Born in Saint Michael, Barbados and raised in Bridgetown, during 2003, she recorded demo tapes under the direction of record producer Evan Rogers and signed a recording contract with Def Jam Recordings after auditioning for its then-president, hip hop producer and rapper Jay-Z.
In 2005, Rihanna rose to fame with the release of her debut studio album Music of the Sunand its follow-up A Girl like Me(2006), which charted on the top 10 of the US Billboard 200 and respectively produced the successful singles “Pon de Replay”, “SOS” and “Unfaithful”.
In 2017, Rihanna launched cosmetic company Fenty Beauty under LVMH’s Kendo Brands. The partnership was worth $10 million and would see Rihanna release various beauty products. The first installment of Fenty Beauty was released on 8 September 2017 in stores and online, available in over 150 countries.
With sales of over 250 million records worldwide, Rihanna is the second-best-selling female music artist of all time. She has earned 14 number-ones and 31 top-ten singles in the US and 30 top-ten entries in the UK. Her accolades include nine Grammy Awards, 13 American Music Awards (including the Icon Award), 12 Billboard Music Awards, six Guinness World Records, and the NAACP’s President’s Award. Time named her one of the 100 most influential people in the world in 2012 and 2018. Forbes ranked her among the top ten highest-paid celebrities in 2012 and 2014. As of 2021, she is the wealthiest female musician and the number richest on the list of 2023 richest people from Barbados with an estimated net worth of $1.4 billion.
1. Dermot Desmond: Estimated net worth – $2.3 Billion
Dermot Desmond started his career in finance at Citibank, and later worked for the Investment Bank of Ireland and PricewaterhouseCoopers.
In 1981 he founded NCB Stockbrokers, which became Ireland’s largest independent brokerage; he sold it for $39 million in 1994.
With the proceeds, Desmond started his own private equity firm, International Investment & Underwriting.
IIU now has stakes in travel software firm Datalex, Mountain Province Diamonds, Barchester Healthcare and Glasgow soccer club Celtic PLC.
Conclusion (2023 top 10 Richest People from Barbados)
Barbados is home to a select group of individuals who have accumulated substantial wealth through their entrepreneurial ventures and business acumen. From tourism and hospitality to finance and real estate, the 2023 top 10 richest people in Barbados are key players in the country’s economic landscape. Their impressive net worth serves as a testament to their success and the opportunities available in Barbados’ business environment.
As these influential figures continue to shape industries and contribute to the nation’s growth, their fortunes stand as a symbol of their achievements and the vibrant entrepreneurial spirit in Barbados. From the stunning beaches to the thriving businesses, Barbados offers a unique blend of natural beauty and financial success.
2023 Top 10 Richest People from Barbados and their Net Worth – Top Most 10