Born Richard Clive Desmond on December 8, 1954 in London, England, he was the son of the one time managing director of Pearl & Dean, a cinema marketing company.
Richard Desmond Net Worth $1.9 Billion
Desmond started his business career when he lost out of school at the age of 15 when he worked in the classified advertisements section of the Thomson Group. In 1974, Desmond founded Northern & Shell which obtained a license in 1983 to release Penthouse in Britain. With combined interest in music and marketing, Desmond started his first magazine International Musician wherein he built a stable of titles. In 2000, Desmond purchased the British newspaper group Express that comprised the Daily and Sunday Express titles, the Daily Star and Daily Star Sunday, along with the Irish Daily Star. In 1993, it’d started publishing the celebrity weekly magazine Ok! He also owned more than 40 adult entertainment publications that he later sold in 2004. He still intends to purchase more titles in the coming years.
Considered a British media magnate, Richard Desmond also purchased Channel5, a UK terrestrial television channel, on July 23, 2010. He also intends to add more children’s programming. He’s also ventured in lottery with The Health Lottery.