James Palumbo: Difference between revisions
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|office = Member of the [[House of Lords]] |
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==Family disputes== |
==Family disputes== |
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In 1994 he launched legal proceedings against his father with his sister, Annabella Adams, claiming his father had mismanaged the family trust |
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> subsequently 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> 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> his father also 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> |
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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> |
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==Life peerage== |
==Life peerage== |
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Revision as of 16:21, 21 August 2014
The Lord Palumbo of Southwark | |
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| Member of the House of Lords | |
| Personal details | |
| Born | 6 June 1963 London, England |
| Political party | Liberal Democrats |
| Occupation | Entrepreneur, Author, Peer |
| Net worth |  £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] He is the son of property developer Peter Palumbo, Baron Palumbo, was born in London and educated at Eton College and Worcester College, Oxford.[2]
Early career
From 1984 - 1992 Palumbo worked in the City of London for Merrill Lynch and Morgan Grenfell in equity capital markets and property finance.[3]
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.[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
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
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
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]
References
- ^ The Sunday Times Rich List 2014. The Sunday Times
- ^ a b Wynne-Jones, Ros (2 November 1997). "The Man From the Ministry". The Independent. Retrieved 6 May 2014.
- ^ a b Bell, Matthew (9 August 2009). "James Palumbo: There's only money, sex; and music and mellowing". The Independent. Retrieved 6 May 2014.
- ^ How I risked my life kicking the drug gangs out of my club, by Ministry of Sound boss James Palumbo
- ^ Club class: 20 years of the Ministry of Sound
- ^ Kelsey, Tim (11 April 1994). "Lord Palumbo accused of benefiting from trust". The Independent. Retrieved 6 May 2014.
- ^ Kate Rankine, ‘Daily Telegraph’, 13 September 2003, Business profile: Chairman with a passion for needlework
- ^ Michael Seamark, ‘Daily Mail’, 28 July 2010, Lord Palumbo in fresh court row with children over “missing art worth £2m”
- ^ Palumbo the Younger ready to make peace over a cuppa
- ^ "No. 60648". The London Gazette. 4 October 2013.
- ^ "Tomas", Quartet Books. Retrieved 20 May 2014.
External links
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| People | |
| Warning | Local parameters are deprecated. |
