We’ve been trolling the Forbes Billionaire list that came out last month, for a certain Mike Ashley, and we’ve finally found him.
Mike Ashley – fortune has risen over last couple of years
In the Forbes Billionaire list published by the magazine in March, Mike is listed as the 651st richest person in the world and the 20th richest person in the United Kingdom.
He fortune has risen from last year and he is now worth $1.9B, and with today’s exchange rate of around 0.61, that is around £1.16B
This is the profile that Forbes put out on Michael Michael James Wallace “Mike” Ashley, who was born in 1963 in Burnham, Buckinghamshire.
“Ultra-reclusive tycoon listed his sporting goods retailer Sports Direct International in February 2007. Kept a 70% stake in the company and continues to oversee more than 400 stores and brands such as Kangol, Lonsdale and No Fear as deputy executive chairman. “
“Company swung back to a profit in 2010 while share price rose by a quarter. Retailing business faring better than his foray into soccer. Bought Newcastle United in July 2007 but failed to sell twice since then, and remains unpopular with fans.”
“Most recently was criticized for firing manager Chris Hughton in December 2010, despite club returning to the first-tier Premier League last year. Reportedly lost about $1.5 million in one night playing craps at a casino in Newcastle in January, tipping the dealer $1,000 as he left the venue.”
News also today that Mike’s Sports Direct business have both increased profits and revenues and reported yesterday that total group sales for the nine weeks to March 27 rose 10.3 percent to £236M.
Gross profit increased by 7.3% to £88M, and Sports Direct added it expected to meet its target for reaching full year underlying earnings before interest, tax, depreciation and amortization (EBITDA) of at least £205M.
For those who follow this kind of stuff, in last year’s Forbes’ list Mike was worth $1.5B, (£0.915B), and ranked 655 in the world, so in the last 12 months he has regained his status as a £UK Billionaire.
So Mike’s net worth has gone up $400M (£241M) over the last 12 months – how much is Lionel Messi worth in the transfer market again? 😀
Business seems good for Mike and his Sports Direct business – now for the really important stuff – to get those six top players into Newcastle this summer!