Financier Dermot Desmond has reportedly become Ireland's richest man after selling London City Airport for €1.1bn.
The billionaire bought the airport 11 years ago for just €35m.
Reports this morning say his massive profit from the sale will be mostly tax-free as he is a tax exile based in Gibraltar.
The sale means Desmond now has a fortune estimated at more than €2bn, putting him ahead of businessmen Anthony O'Reilly and Sean Quinn in the Irish rich list.