Thursday, October 20, 2005

Beyonce does Bar Mitzvah

What else to do with this much money?

England's Independent :

...It takes to £1.6bn the total he has paid himself since buying Bhs and Arcadia five years ago - even if he did forgo his regular dividend from Bhs last week. Quite a return on his original stake of just £89m from his own bank account to buy both businesses.
The windfall overshadowed a record year at Arcadia, the Topshop-to-Evans clothing group that Mr (Philip) Green bought from its shareholders for £850m in 2002. Five of his seven brands increased profits, boosting operating profits before goodwill by 10 per cent to £326.1m. Topshop, the chain beloved by teenagers and trendy mums alike, was top of the pack with a 13 per cent improvement in profits to £102m. The operating margin hit 18.4 per cent, 50 basis points up on the previous year and, in Mr Green's own words, "at the top of the UK".

The 53-year-old Monaco resident, who has a 12-seater Gulf Stream jet, a yacht moored on the Côte d'Azur and likes to throw a good party (Beyoncé sang at his son's three-day bar mitzvah bash earlier this year), is often feted as the classic rags-to-riches story. But the son of a Croydon-based electrical retailer was educated at Carmel College in Berkshire, often described as a Jewish Eton. The colourful entrepreneur left school at 16 with no qualifications and went straight into the trade, starting by selling shoes for a friend of his father's...

Waste it. Desecrate it.
posted by Yeshiva Orthodoxy
at 9:27 PM


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