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James Palumbo

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The Right Honourable
The Lord Palumbo of Southwark
Member of the House of Lords
Assumed office
2 October 2013
Personal details
Born
James Rudolph Palumbo

(1963-06-06) 6 June 1963 (age 61)
London, England
Political partyLiberal Democrats
OccupationEntrepreneur, Author, Peer
Net worthIncrease £300 million (Est. 2016)

James "Jamie" Rudolph Palumbo, Baron Palumbo of Southwark (London, 6 June 1963) is a British entrepreneur, author and Liberal Democrat life peer. He was listed in the Sunday Times Rich List 2016 in 350th place with an estimated fortune of £300 million.[1] Jamie was born in London and educated at Eton College and Worcester College, Oxford.[2]

Early career

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

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 70 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, which he subsequenyly reacquired.[6]


Family disputes

In 1994 he launched legal proceedings against his father with his sister, Annabella Adams, claiming his father had mismanaged the family trust,[7] subsequently his father resigned as a trustee.[8] In 2010 new proceedings were launched relating to another family trust, [9] his father also resigned from this trust and paid legal fees.[10]

Life peerage

On 2 October 2013, Palumbo was created a Life Peer taking the title Baron Palumbo of Southwark, of Southwark, in the London Borough of Southwark.[11]

Personal life

He lives in London with his Thai friend of thirty years, Miss 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.[12] Stephen Fry called the novel "remarkable... It's as if Thomas Pynchon and Burroughs and Vonnegut got together and had a bastard love child."[13]

Titles and styles

  • 1963-1991: Mr James Rudolph Palumbo
  • 1991-2013: The Honourable James Rudolph Palumbo
  • 2013-: The Lord Palumbo of Southwark

References

  1. ^ The Sunday Times Rich List 2016. 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, independent.co.uk; accessed 26 September 2014.
  6. ^ http://features.thesundaytimes.co.uk/richlist/2016/live/richlist/view/group6/1/rank/-/lord%20palumbo#profile-0
  7. ^ Kelsey, Tim (11 April 1994). "Lord Palumbo accused of benefiting from trust". The Independent. Retrieved 6 May 2014.
  8. ^ Kate Rankine, ‘Daily Telegraph’, 13 September 2003, Business profile: Chairman with a passion for needlework
  9. ^ Michael Seamark, ‘Daily Mail’, 28 July 2010, Lord Palumbo in fresh court row with children over “missing art worth £2m”
  10. ^ Palumbo the Younger ready to make peace over a cuppa
  11. ^ "No. 60648". The London Gazette. 4 October 2013.
  12. ^ "Tomas", Quartet Books. Retrieved 20 May 2014.
  13. ^ YouTube
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