“David McMurtry, the co-founder and chief executive officer of Renishaw Plc (RSW), emerged as a billionaire last week after shares in the company reached a record high,” Tom Metcalf reports for Bloomberg.
“The Gloucestershire, England-based measuring equipment maker, whose tools are used in the production of Apple iPhones, according to analysts, jumped 20 percent last week after the company said in a statement that it expected half-year pretax profit to more than double to 55 million pounds ($83 million),” Metcalf reports. “‘We continue to see good momentum in our business, with a record order book,’ McMurtry said in the statement.”
“The 74-year-old has a $1.1 billion fortune, according to the Bloomberg Billionaires Index,” Metcalf reports. “His 36 percent stake in the measurement and calibration device-maker is valued at more than $900 million. He’s collected more than 100 million pounds in dividends since the company became publicly traded in 1983.”
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