No one except Sir Philip Green, his wife, Lady Tina Green, and their accountants know exactly how rich the self-crowned “king of the high street” actually is. But there is one thing in which everyone can be certain: the Greens are far less rich than they once were. The couple, who own the Arcadia retail empire which collapsed into administration on Monday, were reportedly the UK’s fifth richest people in 2006 with an estimated fortune of £4.9bn, according to the Sunday Times rich list for that year. A large chunk of that money came from a £1.2bn dividend in 2005, the biggest in British corporate history. No tax was paid on the dividend paid to Tina Green because of her base in tax-free Monaco. Since then the Greens’ fortune has dwindled. In the latest edition of the rich list, published in May, the Sunday Times stripped the couple of their billionaire status, estimating that their fortune had fallen to about £950m. Their wealth is likely to have shrunk further as Arcadia Group – which includes the Topshop, Burton and Dorothy Perkins chains – has experienced a collapse in sales due to the coronavirus pandemic and lockdowns. The company said the… Read full this story
- Topshop boss Philip Green could close over 100 Arcadia stores as the high street takes a battering
- Coronavirus: Billionaire Philip Green asks for taxpayer cash to save Topshop empire
- Uncertainty for 18,000 Arcadia workers threatened with redundancy as Sir Philip Green's firm delays crunch vote on restructuring for a week
- Philip Green: what's gone wrong at his Topshop empire?
- Sir Philip Green 'has no intention' to watch Greed film
- Arcadia Group may permanently shut down stores amid Covid-19 crisis
- Kevin Durant argues with Draymond Green after failed final shot attempt
- Green’s retail empire could close over 100 stores
- $137 bn at stake: How the divorce can impact global wealth ranking of Jeff Bezos
- Soros-Linked Group of Wealthy Individuals Pen Letter Begging for a ‘Moderate Wealth Tax’
Philip Green's wealth has shrunk as Arcadia's fortunes have faded have 325 words, post on www.theguardian.com at December 1, 2020. This is cached page on Europe Breaking News. If you want remove this page, please contact us.