What is Doug Barrowmans Net Worth?
What is Doug Barrowman’s Net Worth? – Doug Barrowman is a Scottish entrepreneur who established the Knox Group of Companies and invested in Ve Interactive, Aston Ventures, and Equi Capital.
Born in March 1965, Barrowman faced scrutiny in 2022 when The Guardian reported that he, his wife, and their children had secretly received £45.8 million in payments from government PPE contracts. These contracts were lobbied for during the COVID-19 pandemic, prompting a police investigation into Barrowman’s activities.
What is Doug Barrowman’s Net Worth?
With an estimated net worth of approximately $5 million, Doug Barrowman’s philanthropic endeavors include the establishment of The Prince’s Trust Doug Barrowman Centre in the Ancoats area of Manchester. This center was made possible through Barrowman’s generous donation of £2 million to The Prince’s Trust in 2019. In addition to his charitable contributions, Barrowman’s personal assets comprise six residences, a diverse collection of fifteen cars, and ownership of a private jet. His opulent lifestyle was highlighted in a 2015 episode of the television series “Million Pound Mega Yacht,” showcasing his 55-meter yacht named Turquoise.
On December 17, 2023, Barrowman, alongside his wife Baroness Mone, denied any wrongdoing during an interview on BBC’s Sunday with Laura Kuenssberg. He clarified that as a businessman and Isle of Man resident, he led a consortium that secured UK PPE contracts. Barrowman asserted that neither his wife nor children benefited from the business deal, though he admitted that profits had been placed in a Trust for potential future benefits.
Barrowman was born in Glasgow and later attended Glasgow University, graduating in 1985 with a Bachelor of Accountancy degree. After completing his professional examinations, he became a chartered accountant and worked for 3i, a private equity fund. In 1992, he left 3i to establish his own corporate finance practice, exiting from it in 1999.
In 1999, Barrowman founded Aston Ventures, a private investment vehicle that made 13 acquisitions over the next decade. In 2008, he moved to the Isle of Man and founded The Knox Group of Companies, which included Aston Ventures. The group faced scrutiny for its involvement in offshore loan schemes, and Barrowman co-founded the KHG Private Equity Fund in 2011.
Financial Provisions Solutions, owned by Knox Group, went into voluntary liquidation in January 2019, causing losses for Army veterans who transferred out of the final salary Army scheme. Barrowman also served as the interim chairman of Ve Interactive in 2017 and was involved in the launch of Aston Plaza and Residences in Dubai.
The Guardian’s articles in 2020 and November 2022 detailed Barrowman and Mone’s implication in lobbying for government PPE contracts, resulting in financial gains. Barrowman received £45.8 million in payments to his private offshore accounts from £200 million government contracts earmarked for PPE during the COVID-19 pandemic in the United Kingdom.
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