Sean Quinn & family’s profile picture

Sean Quinn & family

Sean Quinn & family’s profile picture
Net worth 2018: $2.3 Billion
Industry: Other
Country: Ireland
BirthDay: 5 December 1947
Sigh: Capricorn
Children: 5
Education: High School
BIOGRAPHY

Sean Quinn & family was bornon 5 December 1947 in Ireland. Chairman of Irish industrial conglomerate Quinn Group recovering from disastrous bet on Anglo Irish Bank. Bought financial contracts to quietly amass 25% stake in Anglo Irish. Credit crisis struck, Anglo was nationalized in January 2009. Quinn had borrowed from his flagship insurance business to fund purchases when shares were rising. Result: $1 billion writedown. Press-shy Quinn posted press release in October claiming "absolutely no impropriety" in contract purchases. Recently announced plans to take Quinn Group public "by the end of 2015." Other assets: radiator, plastic and glass factories, hotels, commercial real estate and a chain of pubs.

NET WORTH STATISTIC
2010

$2.3 Billion

2018

$2.3 Billion

TIMELINE
2013

Since the government liquidated IBRC in February 2013, the Quinn family has been thinking about a legal challenge to the constitutionality of the IBRC act

2012

uk]In 2012, he was jailed for three months for contempt of court, having allegedly engaged in asset stripping, e

2011

As of April 2011 Sean Quinn and the Quinn family no longer have any role in the management, operations or ownership of the Quinn Group

2010

With Anglo Irish Bank's financial difficulties Quinn was pursued in 2010 for his loans from it, then about €2

2009

Quinn Insurance had made losses of €905m in 2009, and €160m in 2010, and the Irish Government passed the Insurance (Amendment ) Bill 2011 which imposed a 2% levy on all other Insurance policies to meet an estimated €280m shortfall to the state's Insurance Compensation Fund

2008

In 2008 the shares or contracts for difference bought in Anglo Irish Bank dropped in value and the bank had to find a buyer for Quinn's shares

2007

On 7 March 2007, Seán Quinn spoke publicly for the first time in 10 years at a conference at the Slieve Russell hotel organised by the Cavan County Enterprise Board, at which he outlined the strategic aims of the Quinn Group in the immediate future

2006

Quinn Direct Insurance sponsored the British Masters tournament there in May 2006

2005

In 2005 the group bought The De Vere Belfry hotel and golf course in England

2004

In 2004 Quinn Direct insurance expanded into the UK motor and commercial insurance market

1999

"On 18 May 1999 Seán Quinn was awarded an Honorary Doctor of Laws from NUI Maynooth

1996

Quinn Financial Services, founded in 1996, includes the Quinn Direct insurance business

1990

Peter became a financial advisor and in 1990 he was elected President of the Gaelic Athletic Association, Ireland's largest sporting and cultural organisation, in which role he served between 1991–1994

1973

These contacts enabled him to build a company spanning both sides of the Irish border when, in 1973, he borrowed £100 and started extracting gravel from his family 23-acre (93,000 m) farm, washing it and selling it to local builders

20

has "done nothing to purge his contempt and reverse the asset stripping since the July 20th coercive orders were made"

(4.4/135 votes)
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