Bloomberg Billionaires Index

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# Phil Green

Random fact: Stays at London's Dorchester Hotel during the week.

Overview

Green is the majority owner of Arcadia Group, the largest closely held clothier in the U.K. The London-based company controls fashion chain Topshop and had revenue of 2 billion pounds ($2.6 billion) in the fiscal year ended August 2016. The billionaire's Arcadia stake is held by his wife, Christina, a resident of Monaco.

As of Sept. 22, 2017:
Last change ()
YTD change ()
Industry Apparel Manufacturers
Biggest asset N/A
Citizenship United Kingdom
Age 64
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Phil Green's net worth of can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

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Biography

Birthdate: 3/15/1952
Family: Married, 2 children

Philip Green was born in the south London neighborhood of Croydon. His father died in 1964, while his son was at boarding school. Green left school at age 16 to work for a shoe importer. He bought a six-month option on shares in a jeans company for $80,000 in 1985, and sold them for $4 million five months later. Green invested the proceeds in discount retailer Amber Day, where he became chief executive officer and his regular appearances in the business press made him a well-known figure in the U.K.

Green resigned after missing a profit forecast in 1992. Eight years later, he returned to the public eye when he bought department store chain British Home Stores for $300 million, rebranded it as Bhs and implemented a turnaround that saw net income double in a year.

Green acquired a 92 percent stake in Arcadia, the owner of a retail empire including Topshop and Dorothy Perkins, for $1.3 billion in September 2002. A $17 billion bid for Marks & Spencer, the U.K.'s largest clothing retailier, was rebuffed two years later. Since then, the billionaire has built Topshop into one of the U.K.'s most prominent brands, with celebrities such as model Kate Moss designing collections for the chain. He sold a 25 percent stake in the brand to U.S. private equity firm Leonard Green in December 2012, which valued the business at $3.2 billion. The billionaire bought a 25 percent stake in online retailer Mysale in May 2014, which listed on the London Stock Exchange a month later. He sold BHS in March 2015 and was criticized by British lawmakers after the chain collapsed a year later, leaving a pension scheme deficit that stood at 700 million pounds in August 2016, according to the Financial Times. He agreed to pay as much as 363 million pounds ($450 million) in February 2017 to compensate former BHS workers after months of haggling with the U.K.’s Pensions Regulator.

Green married his wife, Christina, in 1990. The couple has two children. She emigrated to Monaco in 1998, and placed the family's investment company, Taveta Limited, in her name, an arrangement that avoids U.K. tax on dividends. Green commutes to London from the principality each week on his private jet, staying in London hotels. The birthday parties he throws for himself often feature performances by pop stars.

Milestones
  • 1952 Philip Green is born in Croydon, a south London neighborhood.
  • 1985 Buys shares in jeans business for $80,000. Sells them for $4 million.
  • 2000 Acquires department store chain British Home Stores for $300 million.
  • 2002 Purchases Arcadia Group, whose retail brands include Topshop.
  • 2004 Unsuccessful bid for Marks & Spencer, U.K.'s largest clothing seller.
  • 2005 Wife receives $2.1 billion untaxed dividend from Arcadia Group.
  • 2012 Sells a quarter stake in Topshop and Topman brands for $805 million.
  • 2017 Agrees to pay $450 million to former workers of BHS.