Mike Ashley is getting richer and he is once again a pound Billionaire.
This is picture of Mike Ashley in Forbes Magazine
Mike is at joint 491 in the Forbes World Billionaires they published today with a net worth of $2.5B which translates to around £1.6B in today’s exchange rates.
Sports Direct are having some good results and Mike’s worth has increased as the Sports Direct share price have increased over the last year.
Here is the Profile of Mike Ashley that’s in the magazine, and he is shown with the black and white scarf of Newcastle United around his neck:
Michael Ashley is a reclusive tycoon who does not shy away from bold business moves. He recently upset the British soccer establishment by renaming Newcastle United’s sports stadium the Sports Direct Arena, after his company.
A shrewd negotiator who prefers casual dress, he turned his retail chain into a sports clothing empire, netting $1.8 billion in a 2007 IPO. He still owns a 71% stake and remains executive director. Sports Direct’s stock price rose in 2011 on strong earnings despite a difficult U.K. economy.
Ashley pocketed $140 million last year, when Sports Direct bought 32 stores he was leasing. Right after becoming a billionaire, he bought Newcastle United, then tried to sell it twice. He still owns the Premier League soccer club to the chagrin of some fans.
And here are the facts listed in Forbes magazine on Ashley:
Net Worth $2.5 B As of March 2012
Source of Wealth: sports retailing, self-made
Residence: Hertfordshire, United Kingdom
Country of Citizenship: United Kingdom
Marital Status: Divorced
#491 on Forbes Billionaires
#15 in the United Kingdom
I looked closely at the list that’s just been published – but it looks I didn’t make it.
It seems I’m around $1B short of making the list. 😀