Michael Ashley
$5.6B
Born
Sep 12, 1964
Age
61
Source of Wealth
Sports retailing
Residence
Hertfordshire,
Citizenship
United Kingdom
Marital Status
Divorced
Children
0
Education
- Michael Ashley founded the U.K.'s largest sporting goods retailer, Sports Direct.
- Ashley started Sports Direct in 1982 at age 18; it now has some 800 stores.
- He took the company public in 2007, pocketing $1.8 billion from the IPO. That same year, he bought famed soccer club Newcastle United.
- In 2021, Ashley sold Newcastle United to a consortium backed by Saudi Arabia's sovereign wealth fund for around $400 million.
- He renamed Sports Direct's parent company Frasers Group in 2019, after acquiring department store chain House of Fraser.
- Ashley handed the CEO reins of Frasers Group to his son-in-law, Michael Murray, and stepped down from the Frasers board of directors in 2022.
- Ashley played squash growing up and reportedly dreamed of going pro, but his career was stopped short after an injury.
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