JCB boss is named the richest man in region

JCB digger firm boss Sir Anthony Bamford has emerged as the richest man in the West Midlands — knocking phones and property tycoon John Caudwell into second place.

They are among the super-rich of the West Midlands who have bucked the economic downturn and raked in hundreds of millions of pounds extra since last year. Following the trend of the rest of the country, the region's wealthiest businessmen are now worth £7,260 million — over £1,000m more than last year — according to The Sunday Times Rich List 2011.

In the regional breakdown, Sir Anthony, owner of the Staffordshire-based family company JCB, is the West Midlands' top dog.

JCB saw sales soar to £2billion in 2010 after a record year in India.

The list estimates his wealth has increased by £700m since last year.

It has been a good year for Wolves owner Steve Morgan as well, increasing his assets by an estimated £50m since last year. Mr Morgan, 58, is in joint eighth place with an estimated £400m fortune.

Another Black Country man making a mint is Tony Murray, aged 91, who owns stakes in Wolverhampton-based heating and air conditioning hire firm Andrews Sykes. He is in fourth place, while Roy Richardson, who was responsible for the Merry Hill Shopping Centre development, just missed out on a spot in the top 10 with £395m of assets under his belt.

Meanwhile, after selling his share of Phones4U for a tidy £100m, Stoke-born John Caudwell is now enjoying success investing in the property market.

Fellow Stoke couple Peter and Denise Coates have also made it into the top 10 thanks to online gaming phenomenon Bet365.

Media mogul Felix Dennis — the brains behind Dennis Publishing and the planned Forest of Dennis in Warwickshire — is number five in the West Midlands.

The Mackie family, who own CEF Holdings in Kenilworth, Warwickshire, are sixth on the list.

Coventry Airport owner Sir Peter Rigby is in seventh place, and 64-year-old Lord Edmiston is another new addition, having built the IM Group in Birmingham into one of Britain's biggest importers of Far East cars.

Developer Tony Gallagher, of Gallagher Properties in Warwick, has gone down by £25m but is still thought to be worth a cool £400m.