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Newsletter  |  July 2015

Every month we scour the best-respected sources of financial and business news to give you up-to-date information on which individuals and companies have acquired new wealth. This is our round-up of snippets for June.

Our hope is that our WealthWatch Digests will save you research time by providing quick-to-read pointers to where new money can be found, but please scroll to the end to find out how you can also access much more detailed features and fact-files about UK multi-millionaires in a subscription to our flagship magazine, WealthWatch. Or sign up to receive your next WealthWatch Digest free.

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PeopleWatch

Individuals who have recently increased their wealth


 

Gurinder Chadha


Director Gurinder Chadha has been busy turning her 2002 hit film Bend It Like Beckham into a West End musical which opened at the Phoenix Theatre, London on 15th May. The original film smashed all expectations … Read more >

PropertyWatch

The business of property, land, bricks and mortar



 

Adam Afriyie


Conservative MP Adam Afriyie, who represents Windsor, is in line to make a £9.5 million profit after putting his Westminster townhouse up for sale. He bought the six-storey grade ll-listed Georgian house … Read more >

DealingWatch

Buying, selling and being awarded shares this month
 



Bill Adderley


Bill Adderley, the billionaire founder of homeware retailer Dunelm, has sold most of his shares in Marks & Spencer. Adderley, the firm’s largest private shareholder, said that there were a couple of even bigger opportunities … Read more >

BusinessWatch

Corporate deals and job moves creating new wealth
 



Robert Kelsey


Robert Kelsey is the co-founder and deputy chairman of the Centre for Entrepreneurs. He is the bestselling author of the What’s Stopping You series of self-help books, selling over 100,000 copies … Read more >

 

PeopleWatch

Gurinder Chadha


Director Gurinder Chadha has been busy turning her 2002 hit film Bend It Like Beckham into a West End musical which opened at the Phoenix Theatre, London on 15th May. The original film smashed all expectations, becoming an international success and took over $70 million in the box office worldwide. Her other hit films include Bhaji on the Beach (1993), Bride and Prejudice (2004) and Angus, Thongs and Perfect Snogging (2008).

Mick Hucknall


The last Simply Red album was released in 2007, but to celebrate their 30th anniversary the band have released a new album called Big Love. Lead singer Mick Hucknall has homes in London, LA, Paris, a salmon fishing lodge in Ireland and a vineyard in Sicily and is estimated to be worth £40 million. In 2010 he married German/Hungarian art dealer Gabriella Wesberry, their daughter Romy was born in 2007.

Impressive Dividend


One of London’s star fund managers Andy Brown collected a £14 million dividend last year. Impressive, but down from the £20 million he commanded the previous year. A former Morgan Stanley manager, in 2002 he set up Cedar Rock Capital, which grew assets under management by 9% to £7 billion last year. Cedar Rock made pre-tax profits of £35.9 million for the year ended 31st October 2014.

Lewis Hamilton


Britain’s richest sportsman Lewis Hamilton has secured a new deal with Mercedes. Next season he will be paid £1.5 million for every grand prix he races. The deal keeps him with Mercedes for the next three years and is worth about £32 million a year. Already worth an estimated £88 million, he is also free to sign deals outside the team, which experts say could easily be worth another £10 million a year.

 

PropertyWatch

Adam Afriyie


Conservative MP Adam Afriyie, who represents Windsor, is in line to make a £9.5 million profit after putting his Westminster townhouse up for sale. He bought the six-storey grade ll-listed Georgian house in November 2005 for £7.25 million and it’s now on the market for £16.75 million. The MP and his wife, Tracy-Jane, a barrister, plan to move to west London to be closer to the schools of their five young children, as well as his Berkshire constituency. Mr Afriyie, 49, made his fortune in information technology before being elected to parliament in 2005.

Gleneagles


Daniel and Stuart Levy the reclusive brothers who own the Athenaeum Hotel in London have emerged as frontrunners to buy Gleneagles with a bid of more than £160 million. The brothers also own the Runnymede-on-Thames Hotel, in Surrey, 23 Greengarden House, a serviced apartment property in London, and the Grove, an 18th-century mansion in Watford which was once the seat of the Earl of Clarendon and a training centre for British Rail.

Michael Stanley & Alan McIntosh


Irish house builder Cairn Homes has raised £294 million in a London flotation that is the first Irish house builder to float in London for decades. The company was formed about a year ago by Michael Stanley and Alan McIntosh. McIntosh founded private equity group Sun Capital and co-founded the forerunner to Phoenix Group.

4 Cornwall Gardens


Some of the elegance and refinement of its former life as the Lucie Clayton charm school has rubbed off on 4 Cornwall Gardens, in South Kensington, which has now been converted into six smart apartments. Alumni of Lucie Clayton, which became Britain’s top modelling agency in the 1950s and 1960s, include Jean Shrimpton, Jemma Kidd, Tara Palmer-Tomkinson and Joanna Lumley. The building, which is, or was owned by Mickey Arora who lives in one of the flats, is for sale for £25 million.

 

DealingWatch

Bill Adderley


Bill Adderley, the billionaire founder of homeware retailer Dunelm, has sold most of his shares in Marks & Spencer. Adderley, the firm’s largest private shareholder, said that there were a couple of even bigger opportunities out there. Adderley built up a stake in M&S between 2012 and 2013. The chain’s shares were worth 476p in October 2013 and have since risen to 583p. His exit comes after M&S reported its first annual profit rise in four years last month.

Douglas Caster


Ultra Electronics Holdings chairman Douglas Caster has sold 333,522 shares to pocket over £6.2 million. He became a manager at Dowty in 1988 and took part in the management buy-out which formed Ultra Electronics. In April 2000, he became managing director of Ultra’s Information & Power Systems division and in April 2005 became chief executive. He was appointed deputy chairman in April 2010 and became chairman of Ultra in April 2011.

Andy Golding


Andy Golding chief executive of OneSavings Bank and Kent Reliance sold 1.8 million shares for over £5.4 million last month. Prior to joining OneSavings Bank he was the chief executive of Saffron Building Society, where he had been since 2004. And before that held senior positions at NatWest, John Charcol and Bradford & Bingley. He is a director of the Building Societies Trust and has also served as a non-executive director for Northamptonshire NHS.

Dido Harding


TalkTalk’s chief executive Dido Harding exercised a chunk of options to pocket £1.17 million on the same day as she posted a strong set of final results. Following the transaction, Harding holds 4.25 million shares in the telecoms group worth around £16 million at today’s price. Prior to her appointment Dido was Sainsbury’s convenience director, having joined Sainsbury’s from Tesco plc where she held a variety of senior roles both in the UK and international businesses. In August 2014 she was offered a peerage and now sits in the House of Lords as a Conservative Peer.

 

BusinessWatch

Robert Kelsey


Robert Kelsey is the co-founder and deputy chairman of the Centre for Entrepreneurs. He is the bestselling author of the What’s Stopping You series of self-help books, selling over 100,000 copies and being translated into 10 languages. A former City banker, he is owner and chief executive officer of financial PR firm Moorgate Communications. He was previously chief executive officer of start-up incubator Metrocube and a director of the City Fringe Partnership. He was born on 25th July 1964 and he left school with just one O-level.

The Fairburn Family


Family business LJ Fairburn & Son is one of the largest egg producers and packers in the UK. The company is owned by Stuart and Judy Fairburn and run by their son, managing director, Daniel Fairburn. They rear over two million birds and mill over 80,000 tonnes of feed each year, including grain grown on their 1,700 acre farm. They also have their own expanding fleet of lorries to distribute feed, collect eggs and deliver to retail partners. The business turned over nearly £31 million last year.

Farmfoods Frozen Foods


Frozen food discounter Farmfoods has reported a surge in annual sales and profits as Britons search for ways to cut spending on their weekly grocery shop. The supermarket, which is owned by the publicity shy Herd family, said pre-tax profits jumped by 38% to £21 million in 2014 compared with £15 million the previous year. This was driven by an increase in revenue to £852 million, up from £721 million in 2013. The Scottish retailer was founded in 1955 as a meat manufacturing business and opened its first experimental shop in Aberdeen in the early 1970s. It expanded outside of its Scottish heartland in the 1970s and now has over 300 shops across the UK.

Alastair Mills


The IT business Six Degrees has engaged DC Advisory to handle its sale process. Potential suitors include Carlyle Group and Charterhouse, but Providence Equity Partners is seen as the favourite to seal the takeover. The company specialises in cloud computing and systems for businesses and counts Bestival, the Isle of Wight music festival, among its clients. It is expected to change hands for £180 million. Six Degrees was set up by Alastair Mills, he owns just under 10% and could see a return of up to £20 million for his stake.
 
Check out this month’s issue of WealthWatch for more in-depth information on these items including contact details as well as hundreds of other names >
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Contact us


Every month we scour the financial and business pages to bring you up to date news on new wealth. Monthly WealthWatch Digest is available on subscription at £100 a year.

WealthWatch Digest is just a snapshot of the much longer features in WealthWatch, our monthly wealth research magazine.

WealthWatch contains hundreds of names, in-depth profiles, pages of people in the news, and pages of unknown millionaires together with their full contact details.

A subscription to WealthWatch costs just £600 a year


In association with Prospecting for Gold LTD.


Marc Thorne

01208 832272
Marc@wealthwatch.co.uk
 

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