Revealed: How Dame Margaret and Helen Barbour score on Rich List

The North East Rich List, as revealed by the Sunday Times.
The North East Rich List, as revealed by the Sunday Times.

Rags mean riches for two families whose businesses are rooted in South Tyneside.

New figures compiled by The Sunday Times Rich List 2016 - due to be published this weekend - show that Dame Margaret and Helen Barbour - who run the famous clothing brand in Simonside, South Shields - have a fortune of £335m

Raj Sehgal and Sanjeev Meham - whose family founded the Visage clothing business in South Shields - are said to be worth £160m on the annual list of the nation’s weathiest people.

The Babour family come seventh and the Sehgal family joint 15th in the North east regional list

Top of the North East list comes Newcastle United supremo Mike Ashley with £2.43bn - despite that being a £1bn drop on last year.

Sunderland AFC owner Ellis Short, 55, has seen his fortune grow by £200m - to £1.2bn - which ranks him the 90th richest person in the country and second in the region.

Through his London-based Kildare Partners private equity operation, the Missouri-born financier raised nearly £1.4bn to invest in distressed property in 2014. He also owns Skibo Castle in Scotland.

Mr Ashley, 51, is 45th overall in the country, despite having £1.07bn less than last year.

Shares at his Sports Direct business have almost halved in value since December, leaving his stake worth £1.25bn.

Also in the region, the Fenwick retail fortune continues to grow with Mark Fenwick and family now sitting on £700m, up £50m on last year. They stand third on the regional list and 164th nationally.

The company opened its first department store in Newcastle in 1882 with its flagship London Bond Street store opening nine years later.

The Duke of Northumberland stands at sixth on the regional list - and 307th nationally - with a personal wealth of £365m - up £15m on last year.