James Palumbo, Baron Palumbo of Southwark

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The Lord Palumbo of Southwark
Jamespalumbocropped.jpg
Member of the House of Lords
Personal details
Born (1963-06-06) 6 June 1963 (age 51)
London, England
Nationality British
Political party Liberal Democrats
Occupation Entrepreneur, Author, Peer
Net worth Increase £250 million (Est. 2014)

James "Jamie" Palumbo, Baron Palumbo of Southwark (London, 6 June 1963) is a British entrepreneur, author and life peer. He was listed in the Sunday Times Rich List 2014 in 367th place with an estimated fortune of £250 million.[1] The son of property developer Peter Palumbo, Baron Palumbo, Jamie was born in London and educated at Eton College and Worcester College, Oxford.[2]

Early career[edit]

From 1984-92, Jamie Palumbo worked in the City of London for Merrill Lynch and Morgan Grenfell in equity capital markets and property finance.[3]

Ministry of Sound[edit]

In September 1991 Palumbo, together with his school friend Humphrey Waterhouse and DJ Justin Berkmann, founded the Ministry of Sound nightclub in South London. Initially Palumbo lost control of the club to drug dealers, and a fight to regain control ensued.[4]

Ministry of Sound has expanded into a number of areas including recorded music, live events, digital media and merchandise. Ministry of Sound Recordings has sold over 55 million albums and is the largest independent music company in the world.[5] In 2001 Palumbo sold 16% of the business to 3i for £24 million.

Family disputes[edit]

In 1994 he launched legal proceedings against his father with his sister, Annabella Adams, claiming his father had mismanaged the family trust,[6] subsequently his father resigned as a trustee.[7] In 2010 new proceedings were launched relating to another family trust, [8] his father also resigned from this trust and paid legal fees.[9]

Life peerage[edit]

On 2 October 2013, Palumbo was created a Life Peer taking the title Baron Palumbo of Southwark, in the London Borough of Southwark.[10]

Personal life[edit]

He lives in London with his Thai friend of thirty years, Rawipim Paijit.[3] He has one son, Alessandro, born in 1991 to Atoosa Hariri.[2]

His debut novel about corruption in the modern world, Tomas, was published in 2009.[11] Stephen Fry commented in his review that "It's as if Thomas Pynchon and Burroughs and Vonnegut got together and had a bastard love child."[12]

References[edit]

External links[edit]