Which East Midlands business leader has lost £1bn in 12 months?
Mike Ashley, owner of Shirebrook-based Sports Direct and Newcastle United, has seen his fortune fall by more than £1bn in one year, according to The Sunday Times Rich List 2016 – to be published this weekend.
Sports Direct shares have nearly halved in value since December, leaving Ashley’s stake in the business now valued at £1.25bn. Ashley, 51, started the business with a £10,000 loan from his parents.
Ashley made £929m when Sports Direct floated in 2007. He also owns Newcastle FC, which he has made profitable, although the club is fighting relegation from the Premier League. Overall, Ashley is worth £2.43bn.
All East Midlands business figures in the Rich List are male, bar Paul Smith’s wife Lady Smith.
Motoring in the opposite direction to Ashley financially is John Bloor, the man who saved Triumph motorbikes. He has seen his fortune grow by a further £225m in the past year to now stand at £1.25bn. Bloor bought the Triumph name for £150,000 and invested £80m in a new factory to revive the marque.
The miner’s son from Derbyshire runs Bloor Homes, which operates throughout England. Bloor Holdings, the parent company of the Triumph and housebuilding businesses, saw profits soar to £96.2m in 2014-15 with assets of £562.5m. The business is worth £1.2bn and Bloor owns it all.
Bloor is tied in second place on the East Midlands Rich List with Will Adderley and family, who run the Leicester-based Dunelm home furnishing operation, which began life as a market stall run by Adderley’s parents, Bill and Jean, in 1979. Last year the business recorded a 13% rise in revenues to £823m. The family’s stake in the business is worth £1.03bn and other wealth lifts the Adderleys to £1.25bn.
Engineer Tony Langley has a fortune of £1.125bn in the new edition of the Rich List. His fortune has grown by £28m in the past year. His Langley Holdings business makes cement-cooling machines, dockside cranes and printing presses and it made £75.8m profit in 2015.
Elsewhere in the East Midlands Rich List, the sharpest gain in wealth belongs to Derby County FC chairman Mel Morris, up £100m to £500m. Morris, 60, backed King Digital Entertainment, the games maker, and collected £450m when the Candy Crush Saga firm was bought last year by Activision Blizzard.
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