James Palumbo
The Lord Palumbo of Southwark | |
|---|---|
 | |
| Member of the House of Lords Lord Temporal | |
| Assumed office 2 October 2013 Life Peerage | |
| Personal details | |
| Born | James Rudolph Palumbo 6 June 1963 London, England |
| Political party | Liberal Democrats |
| Residence(s) | London, England |
| Occupation | Entrepreneur, author |
| Net worth |  £350 million (Est. 2018) |
James "Jamie" Rudolph Palumbo, Baron Palumbo of Southwark (born 6 June 1963) is a British entrepreneur, author and member of the House of Lords. He was listed in the Sunday Times Rich List 2018 in 359th place with an estimated fortune of £350 million.[1] The eldest 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
From 1984 to 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, together with his school friend Humphrey Waterhouse and DJ Justin Berkmann, founded the Ministry of Sound nightclub in South London. 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.[4]
In 2001 Palumbo sold 16% of the business to 3i for £24 million, which he subsequently reacquired.[5] In 2016 he sold Ministry of Sound Recordings to the Sony Music Group for $104 million.[6] Publishing, live events, merchandise, and the London club remain part of the group.
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]
Life peerage
Following the 2010 election Palumbo helped reorganise Lib Dem headquarters to make the party more efficient in Government.[9] Palumbo is a major donor to the Liberal Democrats.[10] In October 2013, Palumbo was created a life peer taking the title Baron Palumbo of Southwark, of Southwark, in the London Borough of Southwark.[11]
Bon Jardin DRC, Nakhon Nayok Province, Thailand
In 2017 he opened an animal sanctuary with Rawipim Paijit, focused on spay and neuter, rescue and rehabilitation and education and community awareness.[12]
Writing
His debut novel about corruption in the modern world, Tomas, was published in 2009.[13] Stephen Fry called the novel "remarkable... It's as if Thomas Pynchon and Burroughs and Vonnegut got together and had a bastard love child."[14] His second novel, Tancredi, about short termism in politics, was published in 2011.
Personal life
He lives in London with his Thai friend of thirty years, Miss Rawipim Paijit.[3] He has a son, Alessandro, born in 1991 to Atoosa Hariri.[2]
References
- ^ The Sunday Times Rich List 2018. 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.
- ^ Club class: 20 years of the Ministry of Sound, The Independent. Retrieved 26 September 2014.
- ^ "Login".
- ^ "Sony bought Ministry of Sound for £67m, Century Media for £12m". 11 January 2017.
- ^ 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
- ^ Sylvester, Alice Thomson Rachel (16 November 2013). "Palumbo the Younger ready to make peace over a cuppa". The Times.
- ^ Christopher Hope and Stephen Swinford (1 August 2013). "Peerages for multi-millionaires who 'donated their way into the Lords'". The Telegraph. Retrieved 13 October 2016.
- ^ "No. 60648". The London Gazette. 4 October 2013. p. 19575.
- ^ "James Palumbo on partying, politics and his new pet rescue mission". 4 September 2017.
- ^ "Tomas", Quartet Books. Retrieved 20 May 2014.
- ^ YouTube
External links
| International | |
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| National | |
| People | |
- 1963 births
- Living people
- 21st-century British novelists
- Alumni of Worcester College, Oxford
- Eldest sons of barons
- English businesspeople
- English people of Italian descent
- Liberal Democrats (UK) donors
- Liberal Democrats (UK) life peers
- Ministry of Sound
- People educated at Eton College
- Writers from London
- Palumbo family