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It does pay off to be a publisher – at least for some

Last Sunday, the Sunday Times Rich List placed Waterstones' owner Alexander Mamut as the highest-ranking trade figure. Mr Mamut is placed 54th on the list, with a fortune of £1,483m according to the newspaper supplement; however, his riches are not all down to Waterstones, but due to his substantial Russian assets in property, construction and oil fields. However, there are several authors on the list, as well as other publishers. Viscount Cowdray and the Pearson family are in joint 224th place, down from a joint 164th place last year. The supplement has discounted their estimated fortune by £100m, and put the family stake in the Pearson media group, Penguin's parent-company, as being worth "only" £150m, below the 3% declarable limit....

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