Paul McGowan Net Worth | TheRichest
Paul McGowan
Birthname Paul McGowan Birthplace Belfast, Ireland Education University of Ulster (BA Accountancy) Profession Hedge Fund Manager Net worth $48,000,000 Source of Wealth Business (Hilco Capital) Nationality British Country United Kingdom Marital Status Married Children 3Quick Links
Belfast-born McGowan, 49, founder and chief executive of the turnaround specialist Hilco UK, took salary and dividends totaling £5.6m in 2009.
A former accountant, he was the chief architect of Hilco’s acquisitions of the Borders bookshop chain and Allied Carpets. Both had been struggling and had failed to find buyers. McGowan, who lives in Dundalk, also snapped up the 200-year-old pottery maker Denby and the Habitat furnishings chain. The London-based company has offices in Ireland, Germany, Spain, and South Africa. Hilco’s profit jumped 82% to £16.9m in 2009 with turnover up 96% to £95.8m. McGowan holds a 20% stake in Hilco UK. McGowan was able to bomb out high street brands and fix them so they can provide significant profits. He is a financier based in Dundalk who was active in Ireland with deals for HMV and A-Wear. However, the hoped-for turnaround for Xtravision did not materialize. The former accountant born in Belfast McGowan stepped down as Hilco's chief executive last January to become the chairman responsible for the UK and international business development. This new role will allow McGowan to oversee the progress of Hilco's operating companies in South Korea, Canada, the USA, and the UK. He currently has a net worth of $48 million.
Earnings & Financial Data
Date | Category | Description | Amount |
|---|---|---|---|
2019 | Asset | Current value of Paul McGowan's 5,205,145 equities in 7Digital Group PLC | $125,970 |
2014 | Earnings | Payout shared by the two directors of Hilco, Paul McGowan and his partner Andrew Pepper after rescuing the entertainment store HMV | $1,850,000 |
2013 | Asset | Purchase of the DVD and CD retailer HMV Canada from administrator Deloitte | $65,950,000 |
2013 | Asset | Purchase of the DVD and CD retailer HMV UK | $65,970,000 |
2013 | Asset | Purchase value of HMV's £176m of debt | $52,760,000 |
2011 | Asset | Purchase value of the Irish Fashion retailer A|wear | $82,410,000 |
2011 | Asset | Purchase value of the troubled Canadian music retailer HMV Canada by British restructuring firm Hilco UK as the company's Chief Executive Officer | $3,200,000 |
2011 | Misc. | Funding to help 121 locations of HMV Canada | $25,000,000 |
2011 | Asset | Working capital to extend the administration period and secure a more orderly disposal of the assets of the Allders Department Store chain debt | $217,690,000 |
2011 | Sale of Asset | Sales from negotiating deals with concession houses | $39,580,000 |
2011 | Sale of Asset | Sale of stocks | $263,860,000 |
2010 | Earnings | Salary and dividends earned as the founder and chief executive of the turnaround firm Hilco UK | $7,160,000 |
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