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'''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.<ref>[http://features.thesundaytimes.co.uk/richlist/2014/live/richlist/view/group6#list The Sunday Times Rich List 2014. The Sunday Times]</ref>
'''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.<ref>[http://features.thesundaytimes.co.uk/richlist/2014/live/richlist/view/group6#list The Sunday Times Rich List 2014. The Sunday Times]</ref>



==Early career==
Palumbo was born in London and educated at [[Eton College]] and [[Worcester College]], Oxford.<ref name="Wynne-Jones 1997">{{cite web|url=http://www.independent.co.uk/arts-entertainment/the-man-from-the-ministry-1291579.html|title=The Man From the Ministry|last=Wynne-Jones|first=Ros|authorlink=Ros Wynne-Jones|date=2 November 1997|work=[[The Independent]]|accessdate=6 May 2014}}</ref>
Palumbo was born in London and educated at [[Eton College]] and [[Worcester College]], Oxford.<ref name="Wynne-Jones 1997">{{cite web|url=http://www.independent.co.uk/arts-entertainment/the-man-from-the-ministry-1291579.html|title=The Man From the Ministry|last=Wynne-Jones|first=Ros|authorlink=Ros Wynne-Jones|date=2 November 1997|work=[[The Independent]]|accessdate=6 May 2014}}</ref>


From 1984 - 1992 Palumbo worked in the [[City of London]] for [[Merrill Lynch]] and [[Morgan Grenfell]] in equity capital markets and property finance.<ref name="Bell, 2009">{{cite web|url=http://www.independent.co.uk/news/people/profiles/james-palumbo-theres-only-money-sex-ndash-and-music-and-mellowing-1769708.html|title=James Palumbo: There's only money, sex; and music and mellowing|last=Bell|first=Matthew|date=9 August 2009|work=[[The Independent]]|accessdate=6 May 2014}}</ref>
From 1984 - 1992 Palumbo worked in the [[City of London]] for [[Merrill Lynch]] and [[Morgan Grenfell]] in equity capital markets and property finance.<ref name="Bell, 2009">{{cite web|url=http://www.independent.co.uk/news/people/profiles/james-palumbo-theres-only-money-sex-ndash-and-music-and-mellowing-1769708.html|title=James Palumbo: There's only money, sex; and music and mellowing|last=Bell|first=Matthew|date=9 August 2009|work=[[The Independent]]|accessdate=6 May 2014}}</ref>

==Ministry of Sound==


In September 1991 Palumbo co-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.<ref>[http://www.dailymail.co.uk/news/article-1195900/Bouncers-turned-club-Ministry-DRUGS--I-risked-life-drive-out.html How I risked my life kicking the drug gangs out of my club, by Ministry of Sound boss James Palumbo]</ref>
In September 1991 Palumbo co-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.<ref>[http://www.dailymail.co.uk/news/article-1195900/Bouncers-turned-club-Ministry-DRUGS--I-risked-life-drive-out.html How I risked my life kicking the drug gangs out of my club, by Ministry of Sound boss James Palumbo]</ref>
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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.<ref>[http://www.independent.co.uk/arts-entertainment/music/features/club-class-20-years-of-the-ministry-of-sound-2264034.html Club class: 20 years of the Ministry of Sound]</ref> In 2001 Palumbo sold 16% of the business to 3i for £24 million.
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.<ref>[http://www.independent.co.uk/arts-entertainment/music/features/club-class-20-years-of-the-ministry-of-sound-2264034.html Club class: 20 years of the Ministry of Sound]</ref> In 2001 Palumbo sold 16% of the business to 3i for £24 million.


⚫
In 1994 he launched legal proceedings against his father with his sister, Annabella Adams, claiming his father had mismanaged the family trust. <ref name="Kelsey, 1994">{{cite web|url=http://www.independent.co.uk/news/uk/lord-palumbo-accused-of-benefiting-from-trust-1369228.html|title=Lord Palumbo accused of benefiting from trust|last=Kelsey|first=Tim|authorlink=Tim Kelsey|date=11 April 1994|work=[[The Independent]]|accessdate=6 May 2014}}</ref> His father resigned as a trustee.<ref>[http://www.telegraph.co.uk/finance/2862941/Business-profile-Chairman-with-a-passion-for-needlework.html Kate Rankine, ‘Daily Telegraph’, 13 September 2003, Business profile: Chairman with a passion for needlework]</ref>
==Legal case==


⚫
In 2010 new proceedings were launched relating to another family trust.<ref>[http://www.dailymail.co.uk/news/article-1298410/Lord-Palumbo-fresh-court-row-children-missing-art-worth-2m.html Michael Seamark, ‘Daily Mail’, 28 July 2010, Lord Palumbo in fresh court row with children over “missing art worth £2m”]</ref> In 2012 his father resigned from this trust and paid legal fees.<ref>[http://www.thetimes.co.uk/tto/news/politics/article3923599.ece Palumbo the Younger ready to make peace over a cuppa]</ref>
Palumbo was estranged at an early age from his father [[Peter Palumbo, Baron Palumbo|Lord Palumbo]], the [[Conservative]] peer and former Chairman of the [[Arts Council]].<ref>London Evening Standard, 7 November 1994, Palumbo courts fresh battle against Jamie</ref>

⚫
In 1994 he launched legal proceedings with his sister, Annabella Adams, claiming his father had mismanaged the family trust, set up by his grandfather Rudolph, a successful property developer.<ref name="Kelsey, 1994">{{cite web|url=http://www.independent.co.uk/news/uk/lord-palumbo-accused-of-benefiting-from-trust-1369228.html|title=Lord Palumbo accused of benefiting from trust|last=Kelsey|first=Tim|authorlink=Tim Kelsey|date=11 April 1994|work=[[The Independent]]|accessdate=6 May 2014}}</ref> In 1997 his father resigned as a trustee and new trustees were appointed to manage the family affairs.<ref>[http://www.telegraph.co.uk/finance/2862941/Business-profile-Chairman-with-a-passion-for-needlework.html Kate Rankine, ‘Daily Telegraph’, 13 September 2003, Business profile: Chairman with a passion for needlework]</ref>
⚫
In 2010 new proceedings were launched relating to another family trust, this time with Annabella Adams and his younger sister Laura Tikoo.<ref>[http://www.dailymail.co.uk/news/article-1298410/Lord-Palumbo-fresh-court-row-children-missing-art-worth-2m.html Michael Seamark, ‘Daily Mail’, 28 July 2010, Lord Palumbo in fresh court row with children over “missing art worth £2m”]</ref> Again his father resigned as a trustee and made a substantial contribution towards the children's legal fees.<ref>[http://www.thetimes.co.uk/tto/news/politics/article3923599.ece Palumbo the Younger ready to make peace over a cuppa]</ref>

==Politics==


On 2 October 2013, Palumbo was created a [[Life Peer]] taking the title '''Baron Palumbo''' of Southwark, in the London Borough of Southwark.<ref>{{London Gazette |issue=60648 |date=4 October 2013 |startpage=19575}}</ref>
On 2 October 2013, Palumbo was created a [[Life Peer]] taking the title '''Baron Palumbo''' of Southwark, in the London Borough of Southwark.<ref>{{London Gazette |issue=60648 |date=4 October 2013 |startpage=19575}}</ref>


==Writing==
His debut novel about corruption in the modern world, ''Tomas'', was published in 2009.<ref>"[http://quartetbooks.co.uk/shop/tomas Tomas]", ''Quartet Books''. Retrieved 20 May 2014.</ref>
His debut novel about corruption in the modern world, ''Tomas'', was published in 2009.<ref>"[http://quartetbooks.co.uk/shop/tomas Tomas]", ''Quartet Books''. Retrieved 20 May 2014.</ref>

==Personal==


He lives in London with his Thai friend of thirty years, Rawipim Paijit.<ref name="Bell, 2009"/> He has one son, Alessandro, born in 1991 to Atoosa Hariri.<ref name="Wynne-Jones 1997"/>
He lives in London with his Thai friend of thirty years, Rawipim Paijit.<ref name="Bell, 2009"/> He has one son, Alessandro, born in 1991 to Atoosa Hariri.<ref name="Wynne-Jones 1997"/>

Revision as of 09:54, 23 June 2014

Not to be confused with Peter Palumbo, Baron Palumbo.
The Right Honourable
The Lord Palumbo of Southwark
Member of the House of Lords
Assumed office
31 October 2013
Personal details
Born (1963-06-06) 6 June 1963 (age 61)
London, England
Political partyLiberal Democrats
OccupationEntrepreneur, Author, Peer
Net worthIncrease £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]


Palumbo was born in London and educated at Eton College and Worcester College, Oxford.[2]

From 1984 - 1992 Palumbo worked in the City of London for Merrill Lynch and Morgan Grenfell in equity capital markets and property finance.[3]

In September 1991 Palumbo co-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.

In 1994 he launched legal proceedings against his father with his sister, Annabella Adams, claiming his father had mismanaged the family trust. [6] His father resigned as a trustee.[7]

In 2010 new proceedings were launched relating to another family trust.[8] In 2012 his father resigned from this trust and paid legal fees.[9]

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

His debut novel about corruption in the modern world, Tomas, was published in 2009.[11]

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]

References

  1. ^ The Sunday Times Rich List 2014. The Sunday Times
  2. ^ a b Wynne-Jones, Ros (2 November 1997). "The Man From the Ministry". The Independent. Retrieved 6 May 2014.
  3. ^ a b Bell, Matthew (9 August 2009). "James Palumbo: There's only money, sex; and music and mellowing". The Independent. Retrieved 6 May 2014.
  4. ^ How I risked my life kicking the drug gangs out of my club, by Ministry of Sound boss James Palumbo
  5. ^ Club class: 20 years of the Ministry of Sound
  6. ^ Kelsey, Tim (11 April 1994). "Lord Palumbo accused of benefiting from trust". The Independent. Retrieved 6 May 2014.
  7. ^ Kate Rankine, ‘Daily Telegraph’, 13 September 2003, Business profile: Chairman with a passion for needlework
  8. ^ Michael Seamark, ‘Daily Mail’, 28 July 2010, Lord Palumbo in fresh court row with children over “missing art worth £2m”
  9. ^ Palumbo the Younger ready to make peace over a cuppa
  10. ^ "No. 60648". The London Gazette. 4 October 2013.
  11. ^ "Tomas", Quartet Books. Retrieved 20 May 2014.

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