Retail entrepreneur and owner of Sports Direct, the UK’s largest sports-goods retailer Michael “Mike” Ashley has an estimated net worth of £3.75 billion.
Born September 9, 1964 Ashley opened his first Sport and Ski shop in Maidenhead in 1982. This was later followed by other shops in and around London.
How did Ashley become a billionaire?
Ashley is also the owner of Newcastle United after paying around £135 million to buy the club. He was ranked 15th (in Britain only) in the 2012 version of Forbes magazine.
Sports Direct has over 420 stores nationwide, including Lillywhites in Picadilly. Ashley and the other shareholders also own a string of other retailers including young fashion chains USC and independents including Flannels, Pulp and Cruise. Ashley also owns a stake in outdoor specialist Blacks.
He has several fashion brands owned within the Sports Direct family, which have been acquired over a number of years. These include Firetrap, Hot Tuna, No Fear, Golddigga and the menswear licence for DKNY.
Sports Direct took a 4.6 per cent stake in Debenhams in early 2014, in which the stake increased to 6.6.%. He later raised his exposure to Debenhams to 11.2 per cent, and increased it further when converting that stake to another put option. In total Sports Direct owns 12.7 per cent.
In October 2014, Ashley attained ownership of an 8.92% stake in Scottish football club Rangers.
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