Dermot Desmond’s profile picture

Dermot Desmond

Dermot Desmond’s profile picture
Net worth 2018: $2.28 Billion
Industry: Finance
Residence: Dublin, Ireland
Country: Ireland
BirthDay: 14 August 1950
Sigh: Virgo
Children: 4
BIOGRAPHY

Dermot Desmond was bornon 14 August 1950 in Dublin, Ireland, Ireland. Dermot Desmond is #1066 in List Billionaires People In The World. Dermot Desmond started his career in finance at Citibank, and later worked for the Investment Bank of Ireland and PricewaterhouseCoopers before founding NCB Stockbrokers in 1981. It eventually became Ireland's largest independent brokerage. He sold it for $39 million in 1994. With the proceeds, Desmond started his own private equity firm, International Investment & Underwriting, which now has stakes in travel software firm Datalex, Mountain Province Diamonds, Barchester Healthcare and Glasgow soccer club Celtic PLC. In 2015 he made headlines attempting to block the merger of British gambling companies Gala Coral and Ladbrokes, of which he is reportedly a 2.8% owner. His demands were ultimately overridden by a shareholder vote. An avid golfer, he's known as "The Kaiser" for his distinctive mustache.

NET WORTH STATISTIC
2009

$1.5 Billion

2010

$1.6 Billion

2011

$1.6 Billion

2012

$1.5 Billion

2013

$1.8 Billion

2014

$2 Billion

2015

$1.75 Billion

2016

$1.9 Billion

2017

$2 Billion

2018

$2.28 Billion

TIMELINE
2013

Desmond sold BETDAQ to Ladbrokes for €30 million in 2013 and is a shareholder at the bookmaker as a result of the deal

2008

In August 2008, Desmond was offered the position of chairman of the Irish airline Aer Lingus

2003

Subsequently, as a result of Natwest's takeoever in 2003 by RBS, NCB was bought out by its management with the support of former billionaire businessman Sean Quinn who is believed to now control 25% of the company

2001

The Hotel underwent a US$450 million renovation and was re-opened in 2001

2000

The company was founded in 2000 by Dermot Desmond and started trading in September 2001

1999

Mr Haughey's son Conor told the Tribunal in 1999 that he had learned money to refurbish the yacht had come from the bank account of Freezone Limited

1997

In 1997, together with business partners John Magnier and J

1996

Desmond said Haughey asked him for the money in 1996 because of "a shortage of funds"

1994

In September 1994 Mr Desmond made a payment of £100,000

1991

In August 1991, Desmond loaned the company £55,000, made up of £40,000 loaned on 12 August 1991 and £15,000 on 28 August 1991

1990

Mr Desmond also paid £75,456 for the refurbishment of Mr Haughey's yacht, the Celtic Mist, between 1990 and 1991, at a time according to the Tribunal, that Mr Haughey earned between £69,764 and £72,354 a year as Taoiseach

1986

He said he had given former Fianna Fáil press secretary PJ Mara a loan of £46,000 between 1986 and 1989, as Mr Mara claimed he had run into financial difficulties

1981

In 1981, he founded National City Brokers in Dublin

1968

In 1968, Desmond's business career began with Citibank in Dublin, followed by Pricewaterhouse Coopers in Kabul, Afghanistan

1950

Desmond was born in Macroom, County Cork in 1950 and grew up in Marino, Dublin

1211

The Tribunal noted that the payments were made via the Swiss bank account of a company called Anesia Etablissement, Banque Scandinave en Suisse, Case Postale 901, 1211 Geneva 3, of which Mr Desmond was the beneficial owner, via an account at Henry Ansbacher & Company to an account at Cayman International Bank Trust Company, held for Mr Haughey's benefit

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