Sean Quinn's fortune dropped by £1.4bn, the Sunday Times said
County Fermanagh insurance magnate Sean Quinn has suffered one of the biggest losses in wealth on this year's Sunday Times Rich List.
His family's fortune has dropped £1,435m (38%) to £2,295m, although they stay second on the overall Irish list.
Construction magnates Kevin and Michael Lagan came second in last year's breakdown of Northern Ireland's richest people but they have dropped to third.
The Lagan Holdings owners' estimated fortune has fallen from £928m to £250m.
NORTHERN IRELAND RICH LIST
1: Sean Quinn (£2,295m)
2: Lord Ballyedmond (£440m)
3: Kevin and Michael Lagan (£250m)
4: Sam Morrison (£250m)
5: Gerard O'Hare (£220m)
6: Sir Allen McClay (£190m)
7: Dr John King (£160m)
8: Barney and Frances Eastwood (£150m)
9: Shamus Jennings (£146m)
10: Michael Herbert (£145m)
The paper said the Antrim-based firm was on track for profits of more than £57m in 2007/08.
The brothers are level with County Antrim property developer Sam Morrison but were overtaken by Lord Ballyedmond, who owns Newry-based pharmaceutical firm Norbrook.
The Conservative peer's estimated fortune is down to £440m from last year's figure of £570m.
A high climber on the list of Ireland's top 250 earners is Londonderry actress Roma Downey who is on the list with her television executive husband Mark Burnett, who created hit programmes like the Apprentice and Survivor.
The couple's estimated combined fortune of £235m moves them up to joint 28th place from last year's 82nd.
They still have some way to go before catching Hilary Weston and family, whose £4,500m wealth puts them top of the Irish list.
The former model is married to Canadian supermarket owner Galen Weston.