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Archive for tag: Mike Ashley’s fortune.

Ashley’s rolling in it

May 9th, 2011 | 65 Comments |

Mike Ashley, billionaire.
Richie Largeportions
Newcastle United owner Mike Ashley is the 52nd richest man in the UK.

According to the Sunday Times Rich List, Mike Ashley’s fortune rose by £378m last year giving him a total wealth of £1,268,000,000, which is not to be sniffed at.

The sources of his riches are his stake in Sports Direct and monies received from property deals and dividends. But not Newcastle United.

If it was all in cash and he got just 1% interest that would equate to £12,680,000 before tax every year, which would certainly keep me in Earl Grey tea even at the vast amounts I drink. Although evidently – given Mr Ashley’s £378m increase last year – there are far better places to invest ones money than greedy, good for nothing banks at 1%.

This is good news for Newcastle fans as it means that Mr Ashley will be able to put huge amounts of money into the club to buy players next season and will not be worried about losing a few million here and there. I’m sure Mr Llambias will be chipping in too.

Or possibly not. (more…)