Well, at least not when I was there.”, Last year he accused fund manager Neil Woodford of appearing not to be “truthful” but also said he was “annoyed that they [Hargreaves Lansdown] let it go on so long.”, But while Woodford investors are nursing losses of 40%, it has had little impact on Hargreaves’s own personal fortune. ", Hargreaves's successor is Ian Gorham, 39, one of the youngest bosses of a FTSE 100 company. I remember thinking if I could get a penny from everyone in Britain, I would earn £208,000 a year. “There was never any scandal at Hargreaves Lansdown. He trained as an accountant in the 1970s, but hated it and ended up being fired by Peat Marwick, which he says was the best thing that ever happened to him. He loves a pint with colleagues after work. "It's really a very simple business model, but the idea is always to give clients the best information, the best prices and the best service.". Today, most of Hargreaves's own money is tied up in unit trusts or other collective investments which invest in a variety of stocks and financial products to reduce risk. The former boss of Hargreaves Lansdown has taken aim at one of the UK's favourite fund choices - equity income. Joe Biden in the White House: which world leaders stand to lose out? Today it's worth nearly £3bn and his 30% stake is valued at £900m. Amancio Ortega Net worth: $57 billion Country: Spain   9. All Rights Reserved, Reflects change since 5 PM ET of prior trading day. View Peter Hargreaves’ profile on LinkedIn, the world's largest professional community. “It was right to set it up now, rather than have it go through probate.”. The ‘common man’ who set up Hargreaves Lansdown stands by all of his donations. Hargreaves scoffs at the suggestion, although his answer is revealing about his philanthropy. The same holds for cleaning the car or shining my shoes. "And we are very cost-conscious. ", His management style is open and collegiate: "I love criticism. Hargreaves says he has never borrowed a penny, which helps to explain the company's success. Biggest Brexit donor urges May to guarantee EU nationals' rights, 'Like Dunkirk': Brexit donor trumpets 'fantastic insecurity' of leaving EU, Billionaire Brexit supporter says UK should emulate Singapore. The payback from the subsequent Tory victory was immediate: as the election results came in, the value of Hargreaves’ shares soared by £90m, according to Forbes magazine’s real-time billionaires list. Peter Hargreaves, 63, co-founded investment brokers Hargreaves Lansdown with Stephen Lansdown in 1981, starting from his spare bedroom with a single phone. Floated at £1.60 a share in May 2007 – just months before the financial crisis sent Britain’s banks into freefall – the shares now change hands at £18.60. Peter HARGREAVES. Yet this home-grown billionaire – he says his fortune makes him “definitely richer than Donald Trump” – has become a hate figure for some on the left. https://www.ft.com/content/045bf4d9-5c1c-4932-90ad-ab6c2daa2c65 Today the firm is valued on the stock market at £8.8bn. Born in Clitheroe, Lancashire, he attended the local grammar school and trained as an accountant. It helped pay for an anti-EU mailshot to one in three homes in the country. The list includes seven billionaires—from the UK and beyond—that have come out either for or against a British exit from the European Union. As a continent, Europe defied some of the trend across the rest of the Forbes 2016 Billionaires List: New fortunes were created, though overall net worth fell compared to 2015. Looking at the world outside, Hargreaves is pessimistic. Chinese billionaire Zhong Huijuan and her husband Sun Piayoang leading the list run two of the biggest pharmaceutical companies in China. Hargreaves is reportedly the second biggest financial backer of Brexit, donating more than $4 million to the cause. To most businesses, teaming with an organization on the other side of the world might seem an illogical strategic move, but in the satellite industry being poles apart from your JV partner is ideal. Does Peter Hargreaves have a whale of an opportunity for UK investors? risks and opportunities. © 2020 Forbes Media LLC. Liliane Bettencourt Net worth: $30 billion Country: France   10. That set me thinking: how could I establish a business where I made a small amount of money from a huge number of people? From WeWork’s Adam Neumann to Canada Goose chief Dani Reiss, 267 people who were billionaires a year ago did not make onto Forbes’ new list of the World’s Billionaires. He says he is happiest when digging up vegetables from his garden for Sunday lunch and never bets more than a fiver when he goes to the races.

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