What is James Dyson net worth?
|Net Worth||$9.7 Billion|
|Occupation||British inventor, industrial designer, landowner and entrepreneur|
|Date of Birth||2 May 1947|
|Place of birth||Cromer|
James Dyson net worth 2023: Sir James Dyson OM CBE RDI FRS FREng FCSD FIEE is a British inventor, industrial designer, landowner and entrepreneur who founded Dyson Ltd. Traditionally, he is best known as the inventor of the Dual Cyclone bagless vacuum cleaner, which works on the principle of cyclonic separation. He is the richest person in Britain according to Forbes.
Early life and education
James Dyson was born 2 May 1947 in Cromer, Norfolk, one of three children. He was educated at Gresham’s School, an independent boarding school in Holt, Norfolk, from 1956 to 1965, when his father died of prostate cancer.
He excelled at long-distance running: “I was quite good at it, not because I was physically good, but because I had more determination. I learnt determination from it.” He spent one year (1965–1966) at the Byam Shaw School of Art, and then studied furniture and interior design at the Royal College of Art (1966–1970) before moving into engineering.
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It was whilst attending the Royal College of Art to study fine art that Dyson made the switch to industrial design due in part to the tutorage of Anthony Hunt, the renowned structural engineer.
Dyson helped design the Sea Truck in 1970 while studying at the Royal College of Art. His first original invention, the Ballbarrow, was a modified version of a wheelbarrow using a ball instead of a wheel. This was featured on the BBC’s Tomorrow’s World television programme.
Dyson stuck with the idea of a ball, inventing the Trolleyball, a trolley that launched boats. He then designed the Wheelboat, which could travel at speeds of 64 kilometres per hour (40 mph) on both land and water.
Dyson expanded his appliance range to include a washing machine called the ContraRotator, which had two rotating drums moving in opposite directions. The range was decorated in the usual bright Dyson colours, rather than the traditional white, grey or black of most other machines. It was not a commercial success, and is no longer available.
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In 2002, Dyson created a realisation of the optical illusions depicted in the lithographs of Dutch artist M. C. Escher. Engineer Derek Phillips was able to accomplish the task after a year of work, creating a water sculpture in which the water appears to flow up to the tops of four ramps arranged in a square, before cascading to the bottom of the next ramp. Called Wrong Garden, it was displayed at the Chelsea Flower Show in 2003.
The illusion is accomplished with water containing air bubbles pumped through a chamber underneath the transparent glass ramps to a slit at the top from which the bulk of the water cascades down. This makes it appear that the water is flowing up, when really, a small amount of water diverted from the slit at the top flows back down the ramps in a thin layer.Dyson Airblade hand dryer
In October 2006 Dyson launched the Dyson Airblade, a fast hand dryer that uses a thin sheet of moving air as a squeegee to remove water, rather than attempting to evaporate it with heat. This allows faster drying, while using much less energy than traditional electrical hand dryers.
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Another product, launched on 18 October 2009, is a fan without external blades, which he calls the Air Multiplier. In addition to a cooling fan, a model which distributes electrically produced heat and an ultrasonic humidifier model are also available.
In April 2016, Dyson launched the Dyson Supersonic, a hair dryer with a smaller motor located in the handle so as to provide better balance and smaller size, as well as quieter operation.
Commenting on the launch, Vogue magazine said “as the first product to launch from Dyson’s new UK state-of-the-art hair laboratory, we have high hopes for the future of our blow-dries.
Research and development
Dyson spent £7m a week on research and development of new products. The company is the UK’s biggest investor in robotics and artificial intelligence research, employing over 3,500 engineers and scientists, and engaging in more than 40 university research programmes. Speaking to the Daily Telegraph, Dyson said, “We’re looking at more non-domestic products but we are not rushing to do lots of different things,” he said. “We are a private company so we can do it when we are ready.”
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In November 2014, Dyson announced plans to invest a further £1.5bn into the research and development of new technology, including funding for an expanded campus at the Dyson UK headquarters in Malmesbury which will create up to 3,000 jobs.
The then Prime Minister David Cameron, said: “Dyson is a great British success story and the expansion of the Malmesbury campus will create thousands of new jobs, providing a real boost to the local economy and financial security for more hardworking families. Investment on this scale shows confidence in our long-term economic plan to back business, create more jobs and secure a brighter future for Britain.”.
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In March 2016, Dyson announced a second new multimillion-pound research and development centre on a 517-acre former Ministry of Defence (MoD) site at Hullavington, Wiltshire. The company said it aimed to double its UK-based workforce in the next five or six years. Dyson said: “After 25 years of UK growth, and continuing expansion globally, we are fast outgrowing our Malmesbury Campus. To win in the world stage you have to develop new technology and develop great products and that’s what we’re doing here.”.
In September 2017, Dyson announced plans to produce an electric vehicle, aiming to be launched in 2020, investing £2bn of his own money. He assembled a team of more than 400 people for the project.
According to reports, the vehicle was intended to be powered by a solid-state battery, Dyson having acquired the battery company Sakti3 in 2015. In October 2019, Dyson announced that the electric car project had been cancelled due to it not being commercially viable.
In 2017, Dyson launched the Dyson Institute of Engineering and Technology.
In the late 1970s, Dyson had the idea of using cyclonic separation to create a vacuum cleaner that would not lose suction as it picked up dirt. He became frustrated with his Hoover Junior’s diminishing performance: the dust bag pores kept becoming clogged with dust thus reducing suction. The cyclone idea came from a sawmill that used cyclone technology.
Partly supported by his wife’s salary as an art teacher, and after five years and about 5,127 prototypes, Dyson launched the “G-Force” cleaner in 1983.
James Dyson net worth
However, no manufacturer or distributor would handle his product in the UK, as it would have disturbed the valuable market for replacement dust bags, so Dyson launched it in Japan through catalogue sales.Manufactured in bright pink, the G-Force sold for the equivalent of £2,000.
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It won the 1991 International Design Fair Prize in Japan. He filed a series of patents for his dual cyclone vacuum cleaner EP0037674 in 1980.
After his invention was rejected by the major manufacturers, Dyson set up his own manufacturing company, Dyson Ltd. In June 1993, he opened a research centre and factory in Malmesbury, Wiltshire.
Dyson’s breakthrough in the UK market came more than ten years after the initial idea, through a TV advertising campaign in which it was emphasised that, unlike most of its rivals, the Dyson vacuum did not require the continuing purchase of replacement bags. At that time, the UK market for disposable cleaner bags was £100 million.
The slogan “say goodbye to the bag” proved more attractive to the buying public than a previous emphasis on the suction efficiency that its technology delivers. Ironically, the previous step change in domestic vacuum cleaner design had been the introduction of the disposable bag – users being prepared to pay extra for the convenience.
The Dyson Dual Cyclone became the fastest-selling vacuum cleaner ever made in the UK, and outsold those of some of the companies that rejected his idea, becoming one of the most popular brands in the UK
James Dyson Net Worth
James Dyson net worth 2023 is $9.7 billion. He is one of the richest people in the world and the richest person in United Kingdom. Dyson employs more than 5,800 engineers around the world and says it invests about $10 million a week in product development. In 2019 Dyson scrapped plans to build electric cars after telling staff they were not commercially viable. Dyson’s popular line of intelligent air purifiers claims to have used the data to create the most accurate picture of indoor air quality worldwide.
Dyson married Deirdre Hindmarsh in 1968. They have three children; two sons and a daughter. In 2003, Dyson paid £15 million for Dodington Park, a 300-acre (1.2 km2) Georgian estate in South Gloucestershire close to Chipping Sodbury.
He and his wife own Domaine des Rabelles, near Tourtour, France, and a house in Chelsea, London. His vessel Nahlin is the largest British-flagged and owned super yacht with an overall length of 91 metres (299 ft), and was ranked 36th in a 2013 survey of the world’s 100 biggest yachts.
James Dyson net worth
In July 2019, Dyson spent £43 million on a 21,108 square foot (1,961.0 m2) triplex flat at the top of the Guoco Tower, the tallest building in Singapore. He later sold the flat in October 2020 for £36 million. Dyson has also invested heavily into buying agriculture lands across Lincolnshire, Oxfordshire, and Gloucestershire.
Honours and awards
- In 1997 Dyson was awarded the Prince Philip Designers Prize.
- Dyson was appointed Commander of the Order of the British Empire (CBE) in the 1998 New Year Honours for services to industrial design.
- In 2000, he received the Lord Lloyd of Kilgerran Award.
- He received an honorary doctorate from the University of Bath in 2000.
- In 2005 Dyson was elected a Fellow of the Royal Academy of Engineering (FREng) and appointed a Royal Designer for Industry.
- Dyson was appointed Knight Bachelor in the 2007 New Year Honours for services to business.
- Dyson was elected a Fellow of the Royal Society (FRS) in 2015.
- Dyson was appointed to the Order of Merit (OM) in the 2016 New Year Honours for achievements in industrial design.
- In 2017 Dyson was awarded IEEE Honorary Membership.
- Dyson was provost of the Royal College of Art in London until 1 July 2017, having succeeded Sir Terence Conran in August 2011, and is patron of the Design & Technology Association.
- He was chair of the board of trustees of the Design Museum, “the first in the world to showcase design of the manufactured object”, until suddenly resigning in September 2004, saying the museum had “become a style showcase” instead of “upholding its mission to encourage serious design of the manufactured object”.
- In February 2019 Dyson was elected a foreign member of the United States National Academy of Engineering.
James Dyson net worth
James Dyson Foundation
Dyson set up the James Dyson Foundation in 2002 to support design and engineering education; it now operates in UK, US and Japan. The foundation’s aim is to inspire young people to study engineering and become engineers by encouraging students to think differently and to make mistakes.
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The foundation supports engineering education in schools and universities, as well as medical and scientific research in partnership with charities. It achieves this by funding different resources such as the “Engineering Box”, a box filled with activities for a school to use as a teaching aid.
The foundation loans the boxes to schools for four weeks free of charge, they are suitable for Key Stage 4 and above. The Engineering Box enables students to take apart and examine a Dyson DC22 Telescope vacuum cleaner.
In addition, a school is allowed to retain a James Dyson Foundation teacher pack, and a copy of Genius of Britain, a Channel 4 TV series featuring Dyson, and design engineering posters. Other resources are also available.