Recession hits Irish Rich List

The weath of Ireland's richest citizens has been rocked by financial turmoil and recession.

However Ireland's richest 300 people are worth around €50bn, according to the Sunday Independent Rich List.

The list has revealed that the richest Irish person in the world is a 79-year-old born in India who became an Irish citizen.

Pallonji Mistry is thought to be worth around €4.5bn.