MULTIMILLIONAIRE David Ross is the third generation of his family to have an interest in Cosalt.
His grandfather, Carl Ross, bought the Great Grimsby Coal, Salt and Tanning Company, which later became Cosalt, after World War II.
The business was founded by ship owners in 1873 to supply products allowing fishermen to carry out their work efficiently and safely and was listed on the stock market in 1971.
David made his fortune after Carphone Warehouse floated 11 years ago.
The businessman had a £39million windfall when the company he co-founded joined the Stock Exchange, while his remaining share of the retailer was valued at hundreds of millions of pounds. His wealth has since grown and was estimated to be about £450million in this year’s Sunday Times Rich List.
Mr Ross joined the Cosalt board in 2005 and was made chairman, but the company requested he step down from the role three years later after he failed to declare he had pledged shares he owned in the company against personal loans.
The 41-year-old had also used stock he held in other firms as collateral, including shares in Carphone Warehouse.
He resigned as Carphone’s deputy chairman and also stood down from the committee organising the 2012 Olympic Games, but remained on Cosalt’s board and in August 2009 became non-executive chairman.