Richest people in Yorkshire: The 100 richest people in Yorkshire with businesses in Leeds, York, Sheffield, Doncaster, Bradford - including Morrisons, Jet2, Bettys and Taylors of Harrogate, DFS and more
and live on Freeview channel 276
Insider Media published its annual Yorkshire Rich List today (Tuesday, November 7).
Owners of well-known Yorkshire businesses, such as Morrisons and Jet2, appeared on the list as expected, but a host of new faces, mainly in the manufacturing sector, appeared on this list this year.
This includes people such as Jackie Neal, one of the few women to have a senior role in the UK’s forging industry. Neal is managing director of Abbey Forged Products, a manufacturer of rings and other metal components for the energy, aerospace and defence industries.
It was a similar story at fellow Sheffield business James Durrans Group, which produces iron and steel castings as well as brake components used in millions of cars and trucks. Income more than tripled last year and turnover topped £100m for the first time. This has propelled Christopher Durrans – the fifth generation to run the family-owned business – into the Rich List for the first time.
This is the Yorkshire Rich List 2023 in full:
1 – Malcolm Healey, 79
The kitchen company magnate should have made a decent return earlier this year from selling eBuyer, his electrical goods business. Demand for new PCs, gaming consoles and TVs boomed during the pandemic and his Howden-based internet retailer’s annual sales had risen to £241m ahead of the deal. Offloading eBuyer leaves Healey clear to focus on Wren Kitchens, which has 111 stores.
2 – Lord Kirkham and family, 78
Kirkham set up what would become sofa retailer DFS from an old snooker hall in Doncaster. He made £450m from floating it on the stock market and other share sales during the 1990s. Kirkham then made a further £400m by taking DFS private, and selling to private equit.
3 – Andrew Shelley, William Morrison and Eleanor Kernighan and family, 62, 47 and 49
Shelley, Morrison and Kernighan are three of the eldest children of the late “king of the tills” Sir Ken Morrison, founder of Morrisons supermarkets. Sir Ken’s offspring have their own businesses, including a farm near Northallerton and holidays lets close to York and on the island of Mallorca.
4 – Carol Healey and family, 77
Property developer Eddie Healey teamed up with Paul Sykes to build Sheffield’s Meadowhall shopping centre. Healey, the brother of kitchen tycoon Malcolm Healey, died two years ago. His widow Carol and her family still owns two retail parks.
5 – Paul Sykes, 80
Sykes left school without any qualifications and after working as a tyre fitter began making money from car and engine dealing. He later moved into property and he and Eddie Healey sold Sheffield’s Meadowhall shopping centre for £1.17bn.
6 – The Shepherd family
Don Shepherd ran the Shepherd Group construction company and began focussing on the Portakabin modular building business more than 60 years ago. It now employs 2,260 people across seven European countries. Profits climbed to £73.2m on sales of £393.6m sales in 2022.
7 – John Jakes, 67
Jakes teamed up with Direct Line founder Peter Wood earlier this year to take control of funeral provider Dignity for £281m. Monaco-based Jakes owes his wealth to Steeton’s Acorn Mobility Services.
8 – Philip Meeson, 76
The former RAF pilot has now stepped down as executive chairman of airline Jet2. The former acrobatics ace transformed the freight carrier into Britain’s biggest seller of package holidays, last year flying 16 million passengers. He and his trust own 20.7 per cent of Jet.com.
9 – Paul and Johnny Caddick and family, 73 and 42
The Caddicks’ Moda Living joint venture has quickly become one of the UK’s biggest build to rent brands, completing more than 2,000 homes. Miner’s son Paul still chairs the Wetherby-based Caddick Group with his son Johnny overseeing Moda. Group profits more than tripled to £58m in 2022.
10 – Jon and Susie Seaton, 40 and 42
The Seatons earlier this year sold a stake in their teaching aides business Twinkl to private equity for around £170m. Twinkl was set up in 2010 after Susie, who was working as a pre-school teacher, struggled to find educational resources online. Jon, a former property lawyer, has said in the early days of the Sheffield-based business he would get up at 4am to make content. “Then I’d go to work and come back and work until midnight or 1am,” he added. The deal with Vitruvian Partners valued Twinkl at around £500m.
11 – Lawrence Tomlinson and family, 59
Tomlinson’s LNT Group has built more than 220 care homes since he took over a care home run by his parents when he was just 23. The main LNT business showed profits of £102.4m in 2021-22.
12 – Steve Parkin, 62
Parkin banked around £139m from selling his stake in logistics giant Clipper which he had begun as a “man with a van”. Parkin has also done well from property, finance and owns a bloodstock business worth almost £60m.
13 – Roderick Evans and family, 61
Leeds-based Evans develops and manages property ranging from hotels and offices to logistics hubs, civic buildings, and university colleges. It typically generates annual rent of more than £25m.
14 – Terry Bramall and family, 80
Bramall’s fortune stems from the Keepmoat construction company set up by his father. He has reportedly made another “seven-figure” injection into Doncaster Rovers Football Club on top of at least £12.6m he has already poured in.
15 – Frank Hester, 57
Hester’s Leeds-based software company The Phoenix Partnership (TPP) is best known for storing 61 million NHS patient records. He recently gave £5m to the Tory party saying he had “never been particularly interested in politics”, but had been swayed by Rishi Sunak’s “passion for using technology”.
16 – John Tordoff and family, 60
Tordoff is chief executive of JCT 600, the car dealership chain run by his late father Jack for many years. The Bradford-based group sells 24 car brands from more than 50 locations. Profits fell slightly to £43.1m.
17 – Peter Wilkinson, 69
Wilkinson built his fortune by setting up and selling the internet service providers Planet Online and Freeserve. He now owns Inhealthcare, which provides services to NHS trusts, and the 19,000-acre Pennyholme estate, near Helmsley.
18 – John Guthrie and family, 87
The Guthries’ Broadland Properties includes farming and renewable energy as well as commercial, industrial and residential property. The family also own the Kent tourist attraction Hever Castle.
19 – Nick Howarth and family, 66
Howarth runs his family’s Howarth Timber chain of 34 timber and builders’ merchants and can trace its roots back Lincolnshire-based Arbor Forest Products now accounts for nearly half the group’s £337.3m turnover.
20 – Richard Teatum and family, 66
Teatum’s 64 car dealerships under Stoneacre Group shifted nearly 60,000 vehicles in 2021-22. After profits of £43.2m the Doncaster-based outfit should be worth £350m. He also owned nearly 10 per cent of the collapsed retailer Joules.
21 – Mark Hunter, 61
Hunter owns half of craft brewer Ossett Brewery whose sales almost tripled to £19.7m in 2021-22. But the bulk of his wealth stems from IT consultancy BJSS, which he set up with Andrew Vincent 30 years ago.
22 – Andrew Vincent, 67
BJSS now employs more than 2,500 staff and has won contracts with Specsavers and GoCompare as well as the NHS and other parts of the public sector. Profits rose to £56.1m on record sales of £259.9m in 2021-22.
23 – Stephen and Paul Harrison, 54 and 53
The Harrison brothers have paid themselves £14.8m after a record year for their Leeds housebuilder Harron Homes, which the siblings set up in 1992 when they were in their early twenties. It made profits of £40.1m in 2022.
24 – David Hood, 75
Electronics and aviation
Hood made most of his money from Shipley-based Pace Micro Technology, a manufacturer of set-top TV boxes. He now owns Multiflight, a helicopter and plane chartering, training and storage business.
25 – Richard Barrett and family, 66
Earlier this year, Barrett took over as chairman at the steel stockholder from his brother James who died following a battle with cancer. Turnover at the sixth-generation family business soared to £617m after Russia’s invasion of Ukraine hiked steel prices.
26 – Chris Rea, 69
Rea has invested £13m on 32 robots at his new Rotherham factory to help boost productivity. His AES Engineering makes mechanical seals for several industries. Profits climbed by a third to £48.2m on record sales of £233.8m in 2022.
27 – Danny Sawrij and family, 54
Sawrij’s Leo Group processes 1.25 million tonnes of animal by-products a year, creating 130,000 tonnes of protein meal and 70 million litres of fats used to make fuel, cosmetics, pet food and chemicals. He also owns a truck and van dealer.
28 – Doug Gregory and family, 83
Jersey-based Gregory set up furniture maker Symphony 52 years ago. The Barnsley manufacturer makes fitted kitchens, bathrooms, cupboards and other pieces for hotels, developers and other clients.
29 – Dean and Janet Hoyle, 56 and 56
Hoyle has written off £40m owed to him by Huddersfield Town ahead of the football club’s sale to US investors. It’s a hit he can and his wife can take thanks to the success of Card Factory, which they made at least £250m from.
30 – Alexander Marr and family, 53
The Hessle-based Andrew Marr International catches, trades, processes, stores and distributes seafood around the UK. There are also operations in Sub-Saharan Africa and the Far East. After profits of £22.3m the company should easily be worth £210m.
31 – James and Luke Smith, 45 and 43
The Smith brothers grew profits at their safety barrier maker A-Safe by nearly 25 per cent to £29.1m last year. The pair’s father David started the Elland-based company as a polythene manufacturer in 1984.
32 – Stuart Moore, 69
Moore runs the Wetherby-based Encon, a supplier of insulation, roof materials and fire protection systems. Record trading has seen profits rise by 50 per cent to £29.4m on sales of £306.4m in 2021-22.
33 – Tony Bramall, 87
Bramall last year offloaded shares worth £79.5m in Lookers, the stock market-listed car dealer. He bought his Lookers stake for £55m in 2004 and banked £20m from an earlier sale. Property investments are also faring well.
34 – John and Mark Cotton and family, 84 and 47
John Cotton took control of his family’s pillow and bedding manufacturer nearly 60 years ago. His son Mark works alongside him at John Cotton Group, which has recently launched a new range with fillings made from 100% recycled materials.
35 – The Marshall Family
Elland-based property developer and contractor Marshall CDP was set up by Chris Marshall's great-grandfather at the turn of the 20th century. It bought Manchester’s celebrity favourite Hotel Gotham earlier this year.
36 – Andrew Cawthray and family, 66
Last year Cawthray sold his soft drinks business Cawingredients to the Austrian owner of Red Bull. He set up his Northallerton-based manufacturer after making around £45m from selling Macaw Soft Drinks in 2005.
37 – Jason and Adam Fuller, 55 and 59
The Fuller brothers sold their Leeds-based frozen food empire to their management team last year. Although the terms of the deal were not disclosed, Fullers Foods should have fetched at least £200m.
38 – Nicholas Oughtred and family, 62
Supplying own-brand bread to Co-op stores has helped Oughtred grow sales at William Jackson Food Group by a third to £305.9m. The sixth-generation family business remains loss making though.
39 – The Allam family
Assem Allam, who fled his Egyptian homeland in the late 1960s after suffering torture by Colonel Nasser’s regime, died last year. He made his fortune through his generator business Allam Marine. Control of his £200m businesses empire has now passed to son Ehab.
40 – Malcolm Walker and family, 75
The former rugby league professional has earned well from a series of plumbing and bathroom businesses. Sales have fallen slightly to £45.7m at Walker Modular, a supplier to hotels, student flats, prisons and other large buildings.
41 – Chris and Chris Edwards, 73 and 41
Turnover at the Edwards’ latest discount retailer One Beyond is growing fast - to £103.5m in 2022-23. Chris Sr set up Poundworld in 1974 from a stall at Wakefield market, later selling it for £150m. Chris Jr also runs online low-cost retailer Gem Imports.
42 – Andrew Thirkill, 64
Finance and media
After working as a bricklayer and as a sales rep for the Yorkshire Post, Thirkill netted a series of payouts from building and selling a series of advertising and media companies. He is now into equity release and runs Age Partnership and Pure Retirement.
43 – Andrew Weaver and family, 50
Weaver took over from his father Irving as owner of Strata this summer. He has worked for the Doncaster business since the late 1990s. Weaver’s great-grandfather set up the firm, which completed nearly 1,000 new homes in 2022-22.
44 – Jonathan and Lesley Wild and family, 71 and 71
Tea and coffee
Earlier this year Bettys and Taylors picked up a King’s Award for Enterprise and International Trade. Best known for selling Yorkshire Tea, it has expanded the number of markets it operates in from 28 to 49 in just six years.
45 – Simon Dyson and family, 48
Dyson runs the Grimsby-based housebuilder Cyden Homes. He and his father Geoff founded the business after pocketing £67m from the sale of a similar operation called Chartdale in 2006.
46= Martyn and Paul Carnell, 67 and 69
Once in car sales, the Carnell brothers now run the fast-growing Bluetree commercial printing group. Turnover soared by more than 75 per cent to £93.9m in 2021-22, partly due to the acquisition of luxury book producer and pandemic demand for surgical masks.
46=Alf and Clare Ellis, 75 and 69
Husband and wife Alf and Clare Ellis founded the Pontefract-based kitchen manufacturer Ultima after a fruitless search for a reasonably priced one of their own. Profits grew by nearly 40 per cent to £25.6m in 2022.
48 – The Bailey family
Founded more than a century ago, the facilities and infrastructure business NG Bailey landed contracts worth £150m over a single quarter this year. There are now more than 3,000 staff on the payroll.
49=David and Lesley Jackson, 68 and 69
Bridlington-based Hudson Contract provides HR and payroll services for more than 2,600 firms in the construction industry and turns over nearly £1.4bn a year. Jackson has overcome three bouts of cancer.
49=John and Carolyn Radford, 57 and 41
Radford has a diverse group of businesses ranging from insurance broking and claims handling to solar energy and property development. He is best known for chairing Mansfield Town Football Club.
51 – The Bond family
The late Reg Bond was blinded in one eye by a splinter of flying metal while working as an apprentice mechanic. He used £350 of compensation to set up his own car-repair business in Pocklington. Gradually he shifted his company Bond Group towards selling tyres.
52 – Jamie Boot and family, 71
Henry Boot has recently sold Banner Cross Hall, its home for more than 90 years. Jamie Boot and his family own nearly half of the company shares and their stake should now be worth £127m though down £52.1m since last year.
53 – Mark Pullan and family, 64
Leeds property firm Pullans dates back to 1885. The family-owned company has put together a large portfolio of commercial, industrial and residential sites at Howley Park, Morley and central Leeds.
54 – Peter Smith and family, 74
Five years ago Peter Smith should have picked up around £60m from selling most of his stake in Cottingham-based Swift Group to management. Swift has been growing quickly and his remaining stake should now be worth £52m.
55 – Jeremy Pilkington and family, 72
Pilkington has ruled out selling down his family’s controlling stake in equipment hire business VP. Pilkington’s father and grandfather started their plant-hire outfit in 1954. His family still own 50.3 per cent of the shares.
56 – Duncan Davidson and family, 82
A page boy at Queen Elizabeth’s coronation in 1953, Davidson was working as a labourer on the Blackwall Tunnel nine years later. He would make his fortune from setting up the housebuilder Persimmon.
57=Debbie Bestwick, 53
Bestwick netted £27m from the float of Wakefield games developer Team 17 and retains a minority stake worth around £100m. She says she hasn’t spent any of her proceeds from the IPO. “Money was never my driver,” she told the FT recently. “I’ve never flown business class... I’ve lived a non-materialistic life.”
57=Brian and Simon Kunz, 87 and 54
The Kunzs’ Batley-based Wharfedale Property has soared in value over the past year. It now owns a three million square foot portfolio. Another six separate companies show assets of £12.2m.
59 – Laurence McDougall, 59
All Steels Trading has been heavily affected by the war in Ukraine. Higher prices at the start of the invasion later gave way to a slump after Russia began dumping steel on the market and selling to anyone who would buy.
60 – Gareth Williams and family, 59
Williams is managing director and owner of the Wakefield-based car dealership Hatfields, which sells Jaguars and Landrovers from sites across the North and Midlands. Supply issues have hit profits.
61 – Simon Walton and family, 56
Walton is the fourth generation of his family to run the Leeds-based jewellers Berry’s, which in the last year opened stores in Leeds and Nottingham. Profits rose by 50 per cent to £15.2m on record sales of £73.4m in 2021-22.
62 – Tom and Stephen Martin and family, 87 and 83
Tom Martin is life president of Arco, the Hull-based safety clothing and equipment manufacturer. His brother Stephen has worked alongside him for many years. Higher raw material costs have squeezed margins though.
63 – Kevin McCabe and family, 75
McCabe’s Scarborough Group has secured planning permission to spruce up Scarborough’s Brunswick Shopping Centre and build a new cinema. The master developer named his company after the town where he lives.
64 – Jonathan Lupton and family, 55
Ripon-based Econ Engineering sells 85 per cent of the road gritters on the roads. It also makes salt spreaders and snowploughs. Profits climbed by more than 70 per cent to £12.3m in 2021-22.
65=Sarah Brignall and family, 64
The late Jack Brignall set up property developer Wykeland Group in 1969. The Hull-based operation has developed more than 11 million square feet of commercial space since.
65=Jonathan Turner, 57
Energy and industry
Bayford Group began as a coal merchants founded by demobbed First World War soldiers. Over the years, the Wetherby-based conglomerate has moved into property, hospitality, mining and more recently electric vehicle charging points.
67 – David Kilburn and family, 78
Hull-based building supplies merchant MKM opened its 100th store during 2021-22 and has since added another nine. Kilburn founded the business after being made redundant at the age of 50.
68 – Jonathan Maud, 63
Rushbond is a specialist regeneration developer, breathing new life into tired properties and areas. Maud set up and owns the company which shows assets worth £101.1m.
69 – Richard Martin and family, 58
Martin, former managing director at Doncaster car breakers Synetiq, and his brother Dave should have earned around £90m from its sale in 2021. Martin is restoring the 32-bedroom Owston Hall Hotel.
70 – Tim Rix and family, 60
JR Rix & Sons has benefited from the rising oil price and the recent staycation boom. Revenues from supplying fuel and shipping jumped by more than 70 per cent and its caravan manufacturer Victory Leisure’s sales more than doubled.
71 – Andrew Major, 61
Major is managing director of Thomas Bell & Sons. The Brigg-based operation specialises in importing fertilisers. The company is best known in farming circles for its Diamond Fertilizer brand. Major owns all of the company.
72 – Sir Bob Murray and family, 77
Kitchens and property
Murray started Doncaster-based Omega Kitchens after building up and selling his Spring Ram bathroom group. Profits at Omega’s parent company slipped back to £3.7m in 2022.
73 – Stuart and Jason Paver and family, 62 and 36
Stuart Paver runs his family’s York-based shoe retailer with his son Jason. Over the past five years the Pavers’ foundation has donated £1.7m to worthy causes, and recently gifted a field hospital to the Ukrainian army.
74 – Mark Waind, 62
Waind runs and owns Trackwork, the Doncaster-based group started by his father in 1976. It provides an array of services to the railway industry, ranging from building and maintaining lines, depots and sidings to running safety courses.
75 – Richard Beal and family, 53
Beal Homes moved into a new £5m head office in Hessle this year. Sales rose by 36 per cent to £72.1m in 2022. Profits of £9m suggest the business is easily worth £80m now.
76 – Peter Levine, 67
The Oxford-educated energy veteran owns 29 per cent of listed Leeds-based Molecular and more than 25 per cent of green hydrogen and ammonia producer Atome Energy. But the bulk of Levine’s wealth is from the sale of Imperial Energy.
77= Chris Hopton, 70
Hopton co-founded Lawcris from a two-up, two-down in Wakefield more than 40 years ago. Customers now include furniture makers, shop fitters, caravan manufacturers and exhibition companies.
77=Chris Miller and family, 61
Leeds Commercial sells and leases a wide range of vans and trucks and also has depots in Bradford, Barnsley, Sherburn, Manchester and Bristol. Profits climbed to £13m on turnover of nearly £40m in 2021-22.
79 – Martin and Gavin Rae and family, 57 and 54
A Love Island sponsorship deal and tie-ups with Boots and Pretty Little Thing have all helped sales of the Cloud Nine’s straighteners and dryers. The Rae brothers’ stepfather, former Vidal Sassoon hairdresser Robert Prowls set up the company.
80=Aiden McManus and family, 47
The Bradford-based civil engineering and construction firm Moortown Group was founded 25 years ago and now employs around 500. McManus’s father named it after the Leeds suburb where he lived.
80=Hamish Ogston, 75
Ogston made his money from Leeds-based Card Protection Plan (now CPP).
He is giving £29m to preserve centuries-old crafts, including stonemasonry, carpentry and flint-knapping. The donation will fund up to 2,700 apprenticeships.
82 – Christopher Durrans and family, 63
The 160-year-old Sheffield-based James Durrans Group supplies an array of products, ranging from iron and steel castings to the brake linings and pads used in millions of cars and trucks. Profits rose to £10.8m during 2022.
83 – Nicholas Howard and family, 67
Land and art
The 8,800-acre Castle Howard estate, near Malton, features some 200 listed buildings and monuments. Nicholas Howard continues to diversify the estate’s earnings offering camping, holiday cottages and hosting weddings.
84=Ken Davy and family, 80
Davy set up SimplyBiz (later renamed Fintel) as a provider of software, research and other services to financial advisers. The sale of a previous business DBS, past dividends and share sales should put the Huddersfield Giants owner at around £85m.
84=Jackie and Roger Neal, 73 and 79
Abbey Forged Products makes a range of rings and other metal components for the defence, aerospace, energy and power industries. Jackie serves is thought to be one of the only women bosses in the UK’s forging industry.
86=Sir Andrew Cook and family, 74
William Cook Holdings made lower profits of £5m in 2021-22. But since then the defence contractor has received a surge of orders connected to the Ukraine war. Sir Andrew was the subject of a book this year Outcast: Cook versus the City.
86=Haroon and Farook Valli and family, 56 and 55
The Valli brothers now have 16 forecourts across England, employing nearly 300 staff and serving 200,000 customers a week. Profits at the Dewsbury-based Valli Forecouts climbed by nearly 70 per cent to £10.8m in 2021-22.
88 – John Whittaker and family, 75
Whittaker joined his family’s business nearly 60 years ago. Today, Sheard Packaging produces around a million boxes a day. John’s son Roger is now managing director of Sheard. Profits hit £12.7m in 2021-22.
89=Martyn Harrison and family, 64
Stanley Harrison founded his construction firm in 1952. His son Martyn now chairs the York business and has focussed on built-to-rent, student, hotel and office developments.
89=Julian Slater and Elspeth Beynon and family, 62 and 64
Slater is managing director of Plasmor, the UK’s largest independent building and block paving manufacturer. He, his sister Elspeth Beynon and their family trusts own the Knottingley-based firm, started by their ex-RAF father Antony.
91 – Valeria Sykes, 80
Sykes spent four years turning 17th century mansion Grantley Hall into the “Ritz of Ripon”, a luxury hotel with five restaurants. Last year a ball attracted Prince Albert II of Monaco and raised nearly £850,000 for charity.
92 – Ian and Brenda Mosey, 74 and 69
Livestock and animal feed
Mosey started his agricultural empire more than 40 years ago, initially running a piggery and fattening weaners up for sale. His diverse York-based group now spans pig farming, animal feeds and logistics.
93=Geoff Bloore, 61
Profits at the Leeds-based vehicle leasing and car rental firm Global Autocare climbed by more than half to £22.9m in 2022-23. Private-equity group LDC took a minority stake in 2019, but Bloore still owns more than 25 per cent.
93=Andrew Boyes and family, 76
Boyes chairs his family’s discount retailer, which William Boyes founded in Scarborough in 1881, using the £10 he saved as an apprentice draper. There are now 72 stores in the chain and profits more than doubled to £9.4m in 2021-22.
95 – Daniel Smith and family, 36
BW Industries has been making steel products for nearly half a century. All of its beams, rails, girders and other wares are made at a 114,000 square foot facility in Bridlington. Profits nearly doubled to £9.8m in 2021-22.
96 – Anthony Brittain, 50
Brittain runs and owns M.Brittain, the steel stockholding business set up by his late father. Mel Brittain trained as a plumber, initially plying his trade at York racecourse where he could indulge his passion for horses. In 1972 he started his steel venture and used the earnings to build a successful stud and training operation. Mel died in 2015.
97=Dr Mike Lee and family, 76
Former academic Lee launched student accommodation provider Kexgill with properties in Hull. There are now more than 3,000 beds in the UK portfolio and Germany.
97=Murad Patel and family, 66
Patel and his wife Rokaya set up Al-Murad from their home nearly 40 years ago. Their Leeds-based business has become Britain's largest independent importer and retailer of ceramic tiles and natural stone.
97=Peter and Nicholas McVeigh: 85 and 56
Father and son Peter and Nicholas McVeigh run bulb and lighting manufacturer Status. Peter set up the Birkenshaw-based business in 1991. Status also now makes heaters, radiators, fans and small domestic appliances.
100 – Andrew Lucas, 59
Leeds-based IC Blue supplies micro-processors, semiconductors and other parts to the car industry and other clients. A combination of the growth of electric vehicles, shortages of semiconductors and even the US-China trade war has created strong demand.