What is Mike Ashley net worth?
Table of Contents
|Net Worth||$2.6 billion|
|Full Name||Michael James Wallace Ashley|
|Date of Birth||9 September 1964|
Mike Ashley net worth 2021: Michael James Wallace Ashley is a British billionaire retail entrepreneur focused in the sporting goods market, and the chief executive of Frasers Group Plc. He is also the owner of Newcastle United football club having bought it for £135 million in 2007. Mike Ashley net worth is $2.6 billion.
Mike Ashley was born on 9 September 1964 in Walsall, Staffordshire, England. He was educated at Burnham Grammar School.
n 1988 aged 24, he married Linda Jerlmyr, a Swedish-born economics graduate, and the couple have three children. The couple quietly divorced in 2003, culminating in one of the biggest settlements in British legal history, with Ashley reportedly handing over the family home, multiple properties and assets with a total worth of £50m.
Ashley is protective of his private life. He is known to prefer casual dress of shirt and chinos or a track suit rather than a suit, and often carries his essential business tool of a mobile phone in a plastic carrier bag rather than a briefcase.
After leaving school at 16, he was a county-level squash player. But after injury, he became a county-level squash coach. In 1982, Ashley opened his first sport and ski shop in Maidenhead followed by others in and around London, starting with a £10,000 loan from his family.
The chain expanded quickly funded by private money, and by the late 1990s had rebranded the chain as Sports Soccer and opened over 100 stores across the United Kingdom.
At present Derbyshire based group Sports Direct International Plc, with headquarters in Shirebrook, has over 400 UK stores including the chains Sports World, Lillywhites and Gilesports.
Read Tom Werner net worth
The group employs more than 20,000 people in the UK and at stores in Ireland, Belgium and Slovenia. In 2006, it overtook JJB Sports as the UK’s largest sportswear retailer.
In mid-2006, it was also revealed that Ashley had held talks with John Hargreaves, founder of Matalan on both taking a 25% stake in the retail business and installing mezzanine floors in larger Matalan stores, on which Sports World outlets could be operated.
Ashley has made his money by buying brands. The first major brand he bought was Donnay. In February 2003, Ashley bought the Dunlop Slazenger brand for £40 million, followed up by acquiring outdoor gear manufacturer Karrimor in March 2003, Kangol for £10 million, boxing brand Lonsdale, most of these brands were bought from distressed sellers. After considering a takeover, Ashley took a £9 million stake and signed a long-term deal with Umbro.
Ashley has a 29.4% stake in Blacks Leisure Group, the owner of Millets and Mambo, and is thought to hold stakes in JJB Sports and 19% of JD Sports. “He likes to park his tanks on peoples’ lawns”, said one banker.
In late November 2006, a number of business newspapers reported that Ashley was looking at an IPO of Sports World International. He hired Merrill Lynch, who initially valued the group at up to £2.5bn ahead of the flotation on the London Stock Exchange.
On 23 May 2007, in a surprise move, Ashley bought Sir John Hall’s 41.6% stake in Newcastle United at one pound per share, for a total cost of £55,342,223 via his company St James Holdings Ltd. Under the terms of UK takeover law, having purchased more than 30% of a listed company, he was obliged to make an offer to buy the remaining shares at the same or a greater price.
On 31 May, it was reported that the Newcastle board were considering Ashley’s offer. On 7 June, it was confirmed that chairman Freddy Shepherd had agreed to sell his 28% share to Ashley, which left Ashley free to take control of the club.
Ashley owns a 77.06% stake in Newcastle United, on course to withdraw the club from the stock exchange having surpassed the 75% threshold required. 100% acquisition was achieved in July with Ashley paying a total of around £134 million to buy the club.
Ashley appeared to have saved the club from certain financial ruin by paying off large sums of debt inherited from the previous regime, although he was criticised for not doing due diligence when buying the club, as he subsequently revealed he had been unaware of issues such as the upfront payment of club finances such as the Northern Rock sponsorship, and the presence of outstanding liabilities for long past player transfers.
Mike Ashley Net Worth
Mike Ashley net worth is $2.6 billion. Ashley’s Fraser Group purchased assets from the gym and fitness chain DW Sports, in a deal worth up to £44 million. The group initially bought 46 leisure clubs and 31 retail outlets from DW Sports Fitness for £37 million to merge with its own business.
Top 40 Powerful Leo Tolstoy Quotes about Love, Nature
Leo Tolstoy Quotes: One of the greatest writers in history, Leo Tolstoy was a Russian writer who wrote different books that centered on Trilogy such as “Childhood”, “Boyhood and “Youth”.
Born as Count Lev Nikolayevich Tolstoy in the 1820s, Leo Tolstoy will always be remembered for his two famous novels, War & Peace and Anna Karenina.
For a man filled with so much wisdom, the compilation of Leo Tolstoy quotes that will inspire you and reshape your thinking on some aspect of life.
Powerful Leo Tolstoy Quotes You Should Never Forget
- “The sole meaning of life is to serve humanity.” – Leo Tolstoy
- “I think… if it is true that there are as many minds as there are heads, then there are as many kinds of love as there are hearts.” – Leo Tolstoy
- “All, everything that I understand, I understand only because I love.” – Leo Tolstoy
- “Seize the moments of happiness, love and be loved! That is the only reality in the world, all else is folly. It is the one thing we are interested in here.” – Leo Tolstoy
- “A man is like a fraction whose numerator is what he is and whose denominator is what he thinks of himself. The larger the denominator the smaller the fraction.” – Leo Tolstoy
- “Everyone thinks of changing the world, but no one thinks of changing himself.” – Leo Tolstoy
- “If, then, I were asked for the most important advice I could give, that which I considered to be the most useful to the men of our century, I should simply say: in the name of God, stop a moment, cease your work, look around you.” – Leo Tolstoy
- “Only people who are capable of loving strongly can also suffer great sorrow, but this same necessity of loving serves to counteract their grief and heals them.” – Leo Tolstoy quotes
- “The only thing that we know is that we know nothing and that is the highest flight of human wisdom.” – Leo Tolstoy
- “A quiet secluded life in the country, with the possibility of being useful to people to whom it is easy to do good, and who are not accustomed to have it done to them; then work which one hopes may be of some use; then rest, nature, books, music, love for one’s neighbor — such is my idea of happiness.” – Leo Tolstoy
- “True life is lived when tiny changes occur.” – Leo Tolstoy quotes
- “Without knowing what I am and why I am here, life is impossible.” – Leo Tolstoy
- “And all people live, Not by reason of any care they have for themselves, But by the love for them that is in other people.” – Leo Tolstoy
- “Freethinkers are those who are willing to use their minds without prejudice and without fearing to understand things that clash with their own customs, privileges, or beliefs. This state of mind is not common, but it is essential for right thinking…” – Leo Tolstoy
- “In the name of God, stop a moment, cease your work, look around you.” – Leo Tolstoy
- “Life could be limitless joy, if we would only take it for what it is, in the way it is given to us.” – Leo Tolstoy
- “Our body is a machine for living. It is organized for that, it is its nature. Let life go on in it unhindered and let it defend itself.” – Leo Tolstoy
- “Some mathematician said: ‘Pleasure lies not in discovering truth, but in seeking it.’” – Leo Tolstoy
- “Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold.” – Leo Tolstoy
- “The sole meaning of life is to serve humanity.” – Leo Tolstoy quotes
- “Wrong does not cease to be wrong because the majority share in it.” – Leo Tolstoy
- “Anything is better than lies and deceit!” – Leo Tolstoy
- “A truly wise man is always joyful.” – Leo Tolstoy
- “Happiness does not depend on outward things, but on the way we see them.” – Leo Tolstoy
- “Is it really possible to tell someone else what one feels?” – Leo Tolstoy quotes
- “If there existed no external means for dimming their consciences, one-half of the men would at once shoot themselves, because to live contrary to one’s reason is a most intolerable state, and all men of our time are in such a state.” – Leo Tolstoy
- “Pay bad people with your goodness; fight their hatred with you kindness. Even if you do not achieve victory over other people, you will conquer yourself.” – Leo Tolstoy
- “Is it really possible to tell someone else what one feels?” – Leo Tolstoy
- “Spring is the time of plans and projects.” – Leo Tolstoy quotes
- “Nothing is so necessary for a young man as the company of intelligent women.” – Leo Tolstoy
- “We can know only that we know nothing. And that is the highest degree of human wisdom.” – Leo Tolstoy
- “He stepped down, trying not to look long at her, as if she were the sun, yet he saw her, like the sun, even without looking.” – Leo Tolstoy quotes
- “All happy families resemble one another; every unhappy family is unhappy in its own way.” – Leo Tolstoy
- “It is amazing how complete is the delusion that beauty is goodness.” – Leo Tolstoy
- “Respect was invented to cover the empty place where love should be.” – Leo Tolstoy
- “The changes in our life must come from the impossibility to live otherwise than according to the demands of our conscience not from our mental resolution to try a new form of life.” – Leo Tolstoy
- “Joy can only be real if people look upon their life as a service and have a definite object in life outside themselves and their personal happiness.” – Leo Tolstoy
- “One of the first conditions of happiness is that the link between Man and Nature shall not be broken.” – Leo Tolstoy.
- “Rummaging in our souls, we often dig up something that ought to have lain there unnoticed.” – Leo Tolstoy
- “There is something in the human spirit that will survive and prevail, there is a tiny and brilliant light burning in the heart of man that will not go out no matter how dark the world becomes.” – Leo Tolstoy
Thanks for reading about Leo Tolstoy Quotes, leave your reply in the comments below,
Content on this website is protected by DMCA. Dont waste your time copying because you would eventually remove it.