The billionaire was once accused in the London High Court of some unusual business practices, including challenging a City of London stock analyst to a drinking game-and winning. However, like his one-time friend Sir Philip Green, Ashley has been a never ending source of headlines in the U.K. Sports Direct store in Camden Town Getty Images Forbes first listed Ashley as a billionaire, worth an estimated $2 billion, in 2007, prior to the Sport Direct stock listing. That same year, he bought Premier League football club Newcastle United for $190 million his stake is now worth nearly $360 million. He took the company public in 2007, personally pocketing $1.8 billion (pre-tax) from the IPO. During that time he has hoovered up dozens of companies, including boxing glove maker Everlast, Wimbledon supplier Lillywhites and department store House of Fraser. for many right, wrong and occasionally hilarious reasons.Īshley founded Sports Direct in 1982 when he was 18, and today owns over 60% of the group that has grown to some 769 stores across 25 countries. The announcement appears to mark a move away from the limelight for a billionaire who is constantly making headlines in the U.K. The Frasers Group share price remained largely unmoved by Thursday’s news, down just 0.08%. Michael Ashley is worth an estimated $3.2 billion.
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