Home Business News Former billionaire Philip Green halves his fortune

Former billionaire Philip Green halves his fortune

by LLB Reporter
13th May 19 9:40 am

Sir Philip Green has halved his fortune over the last year and is no longer a billionaire tycoon, according to the Sunday Times Rich List.

The former billionaire tycoon has seen his fortunes plummet by a staggering £1.05bn in just one year, and his wealth now sits at £950m.

In 2007 Green was worth almost £5bn and he now 156th on the Rich List.

Arcadia Group is valued as worthless as the company is coping with a pension debt of a whopping £565m.

Arcadia Group includes Burton, Dorothy Perkins and Topshop, Sir Philip’s stake in the company was valued at £750m in 2018.

Robert Watts, who compiled the Sunday Times list said, he cannot see Sir Philip returning back to the top.

Watts said, “Sir Philip Green may have clung on to his knighthood, but we can no longer justify his status as one of the UK’s billionaires.

“This is the first time since 2002 he has not been in that top tier of the UK’s super rich individuals.”

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