James Palumbo
James Palumbo | |
|---|---|
 | |
| Born | June 6, 1963 |
| Nationality | British |
| Education | 1969 – 1976 Scaitcliffe School, Surrey
1976 – 1980 Eton College 1981 – 1984 Worcester College, Oxford |
| Occupation(s) | Founded Ministry of Sound in 1991
1984 – 1986 Merrill Lynch, London 1986 – 1990 Morgan Grenfell, London 1990 – 1991 Hambro Magan, London |
Born in 1963, James 'Jamie' Palumbo is the eldest son of Peter Garth Palumbo (Lord Palumbo) and his first wife Denia Maud Elizabeth Palumbo (née Wigram). As the grandson of Italian immigrant and successful property developer Rudolf Palumbo, James had a privileged childhood and grew up at Buckhurst Park, Windsor, Berkshire, now the UK home of the King of Jordan.
Palumbo is best known as being the founder of the nightclub and brand, Ministry of Sound (now MSHK Group). Since its conception in 1991, the company has grown from a nightclub in London’s Elephant and Castle to a global multi-media business. MSHK is also the largest independent record company in the world. Less known are Palumbo’s interests in property, in which he has been active since his late teens.
School
Between the age of six and twelve, Palumbo attended Scaitcliffe School in Surrey. On entering Eton College in 1976, Palumbo refused to conform to convention which made him unpopular. Responsible for the expulsion of a number of students for drugs, Palumbo was also involved in the abolition of the time-honoured tradition of fagging; the practice of younger students acting as servants to their older counterparts. At 16 he was named the youngest ever Captain of House.
Professional career
After leaving Eton in 1980, Palumbo spent a gap year in California where he established his first business with his school friend Humphrey Waterhouse - The Etonian Butler Service - providing domestic services to Hollywood celebrities. The business expanded and they were joined throughout the year by a group of school friends. This attracted the attention of the Immigration Services for working in the USA illegally and Palumbo engaged lawyer Randolph Fields to defend the group. A film treatment based on their experiences was sold to Tri-Star and then Paramount Pictures; in later years Palumbo was to work with Fields on the creation of British Atlantic Airways which became Virgin Atlantic.
Between 1981 and 1984 Palumbo studied History at Worcester College, Oxford, whilst working on a number of business interests. After graduating he spent two years at Merrill Lynch and four years at Morgan Grenfell. His principal client at the time was Kwek Leng Beng, Chairman of the Singapore based Hong Leong Group. Palumbo subsequently became director of Kwek’s European hotels business. In 1990 Palumbo was invited to become Managing Director of Morgan Grenfell Laurie; he chose instead to follow his mentor, George Magan, to work at Hambro Magan.
Just over a year later Palumbo went on to found Ministry of Sound with his school friend Humphrey Waterhouse and DJ Justin Berkmann. The club was an immediate success but Palumbo lost control of it to drug dealers. A vicious fight to regain control followed. Later, Ministry of Sound was cited for ‘best practise’ in the Parliamentary debate on the Drugs Misuse Act 1994.
Modelled on the New York City club Paradise Garage, Ministry of Sound is a globally recognised brand. In 2001 Palumbo sold 16% of the business to 3i for £24million. He remains the majority shareholder and is involved in the development of the company.
In addition to its portfolio of clubs, Ministry of Sound is the largest independent record company in the world, has a radio station, IPTV, hosts live events and produces a range of clothing and merchandise. In 2008 Ministry of Sound rebranded to MSHK Group to reflect the purchase of music brands Hed Kandi, Global Underground and Euphoria. During that year the group’s turnover was around £80million, and the business currently employs almost 500 personnel worldwide.
Politics
Palumbo’s support of political figures such as Peter Mandelson (UK Secretary of State for Business, Enterprise & Regulatory Reform), Simon Hughes (Liberal Democrat Shadow Secretary of State) and Tom Sackville (Conservative Home Office Minister) has confused the media as to his party loyalty and whether or not he intends to enter politics himself.
Court case
A well-documented stage of Palumbo’s life was his six-year legal battle with his father over his deceased grandfather’s trust. Having disengaged from his family in the mid-eighties, Palumbo launched court proceedings in 1995, challenging his father’s management of the family trust. The outcome was that Lord and Lady Palumbo were removed as trustees, with control being handed over to a team of legal and finance professionals.
Personal life
Palumbo has never married; he has one son, Alessandro, who was born in 1991 to Atoosa Hariri. He lives in London with his best friend Rawipim Paijit, he is a keen pianist and has a love of classical music.
Palumbo’s first novel, Tomas, is due for release in the summer of 2009.