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Email this article to a friend To send a link to this page you must be logged in. The first in was a huge success with public artworks by Tracey Emin, Mark Wallinger and Richard Wentworth installed in the town. De Haan has also employed Foster to masterplan an m redevelopment of land around the harbour, which will incorporate the campus of a new university.
However, the area that to date offers the most visible evidence of his largesse is the Old Town. Here, his Creative Foundation has established itself as the principal landlord through the purchase of 80 buildings, many of which were in an advanced state of decay.
De Haan, the former boss of the Saga holiday operationbased in the town, is now trying to turn Folkestone into a new Barcelona. Over the next 10 years the new Folkestone is aiming to have a new harbour on the acre site that De Haan has bought for 11m.
Elsewhere in the town will be a sculpture park, a performing arts complex in Tontine Street, and several university buildings created from Victorian warehouses. De Haan, who still works 50 to hour weeks in "retirement", set up the Creative Foundation to buy run-down properties in the old town. The plan was to renovate them to a high standard and let them to artists at lower-than-commercial rents; the vibrant atmosphere would in turn attract businesses and further investment.
To prevent artists from being priced out, they would be given long leases. The foundation has spent 26m buying and renovating 45 properties, and the continuing operation will be funded increasingly by rental income.
The aim is to have properties and tenants by the end of He filled the rooms off-season with pensioners, and so popular did it prove that he took it forward and developed Saga as a holiday company for the elderly.
Roger De Haan took over the running of the company in and sold up in October to a private equity business in a 1.
By then it had developed far beyond its original holiday operation. De Haan was characteristically generous with the proceeds and gave 15m away to staff. After the deal was completed, many newspapers including the Financial Times and other quality papers talked about De Haan as a billionaire. There were scores of such articles, but we take a slightly more cautious line.
After stripping out any debt we allow at least m for tax as Roger De Haan has firmly set his back on becoming a tax exile with his commitment to Folkestone.
His brother, Peter, had been finance director, but now runs his own business in wine and marketing. In addition Roger bought Peter out of some of his shares in an earlier 81m deal.
So allowing for that m tax bill, we reckon the De Haan family should be worth m allowing for the huge and continuing commitment to Folkestone.
In all, it made It refinanced its debts in but claims to be in a better position than a lot of its rivals, which are likely to have to go through the same pain at some stage. Cullum started his insurance career in with Royal Insurance and worked his way up through several companies, including Commercial Union and ITT London and Edinburgh.
Inhe held the role of group marketing director at Hiscox until he spotted a gap in the market for an underwriting business serving niche markets. He left in to create Towergate. In FebruaryThe Sunday Times reported that Cullum was in discussions with private equity group, Candover, to sell a 25 per cent stake for around m.
That would have valued Towergate at a staggering 3. But Cullum shows no sign of wanting to sell and the talks ended. He claimed he was "entering the most exciting phase of his career. The Cullum Family Trust, which he endowed with He also gives on an ad hoc basis, supporting hospices to the tune ofin the past year.
Towergate also gave 10m seed fund for Cass Business School, London, to form a new centre for entrepreneurs. The Peter Cullum Centre for Entrepreneurship will provide support and funding to budding moguls, with a focus on the finance sector.
After the refinancing, we reckon that Towergate should be worth around m in the current climate after taking account of any debt. With his hefty charitable work, we only add 55m for other wealth and past share sale proceeds.
They started a poultry business as a sideline.
Inthe sideline became full-time with the founding of Brake Brothers. It grew into a company worth 55m when floated on the stock market in The Brake family collected around m for its stake.
But in the current climate, we cut the Brake family back to m reflecting the fall in the property and stock markets. There is no word yet whether the band will go on the road again, but it will be difficult to beat the m gross box office receipts achieved in the tour.Ad 2 Fahad Mustafa and Iman Ali Ad 3 JPNA 2 Packaging The package itself from MBA Project at University of the Punjab, Quid-e-Azam.
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