Michel Smurfit is the owner of the yacht Lady Ann Magee. He is a UK based packaging tycoon. Michael Smurfit was chairman of the Smurfit Packaging Group. At the age of 16 he started working at his father’s Jefferson Smurfit & Sons Ltd packaging company. He became chairman in 1977 and created a global leader in the packaging industry. After several mergers and acquisitions the group is now called Smurfit Kappa Group. In 2012 the Smurfit Kappa Group realized sales of EUR 7 billion. Michael Smurfit resigned as chairman but still holds a minority share. Michael Smurfit is also a large shareholder in the international paper and packaging group Powerflute, in which he holds 21% of the shares through his investment company Bacchantes Limited. He is also shareholder in the Escher Group which provides retail (point of sale) software. Michael Smurfit resides in Monaco in the prestigious Le Florestan apartment building. Michael Smurfit was appointed to be a Knight Commander of the Most Excellent Order of the British Empire (KBE) in 2005. Michael Smurfit has a net worth of USD 400 million. The UCD Michael Smurfit Graduate Business School is named in his honor after a generous gift.