Begrudgery towards Tony O’Reilly is misplaced

IRISH people have a regrettable tendency to gloat over the misfortunes of others, especially when the target of their begrudgery is a person who has achieved greater success in life than themselves. 

So, there is no doubt certain people were gloating yesterday as former billionaire Tony O’Reilly, once Ireland’s richest man, was due to apply for bankruptcy in the Bahamas, where he has lived since the 1990s.

If ever there was a case of this peculiar form of warped pleasure being misplaced, it concerns the financial troubles of the former rugby star who became the first Irish businessman to head up one of the biggest companies in the world, the multinational conglomerate Heinz.

A media tycoon, his financial woes began when shares collapsed just as hundreds of millions of his own and his brother-in-law’s money was pouring into a joint bid to salvage the ill-fated Waterford glass group which closed, leaving the workers without a pension.

Unlike some of those who went under because of the excesses of the so-called Celtic Tiger era, leaving the hapless taxpayer to pick up the tab, he has taken the more honourable course by selling many of his most valuable assets in a bid to pay off his debts.

While he still owes millions of euro as the saga comes to a poignant end, it is timely to recall that his philanthropic work was largely unsung, in contrast with others who loudly publicise contributions to charities and the like. Rich or poor, Anthony O’Reilly is a one-off.