Sir Philip Green Gets Even Wealthier — Angers Whole Nation
Sir Philip Green‘s fortune increased considerably in 2016, angering just about the entire nation of Great Britain. The 64 year old businessman somehow made more money after selling the retailer which made him famous, British Home Stores (BHS), for only $1.50 (1 GBP) in 2015.
In April of last year BHS declared bankruptcy, fired many of its 11,000 employees and placed the pension fund of more than 20,000 people in jeopardy. Yet somehow money continued flow to Green’s wife Tina, who officially controls his companies and as a resident of Monaco pays no taxes in the U.K. In the 15 years prior to the sale of BHS, Green padded his fortune by more than $800 million and left its pension fund almost $700 million in the red.
This has led to an inquiry by England’s Parliament and calls for Green’s head.
Two recent headlines have excoriated Sir Phillip Green. One in The Daily Beast tiled, “Meet Sir Philip Green, Britain’s Most Hated Billionaire,” and one in Vanity Fair, “HOW SIR PHILIP GREEN MADE AN OUTRAGEOUS FORTUNE AND OUTRAGED AN ENTIRE NATION.”
Vanity Fair wrote, “In this era of austerity the British people seem to have had quite enough of the retailing tycoon, with his legal tax dodges, his complicated corporate structure, and his hyperinflated lifestyle, replete with a helicopter, a Gulfstream G550 jet, and three yachts—including one, Lionheart, which is 295 feet long and reportedly has a swimming pool, a helipad, and a beauty salon.”
The Daily Beast covered much of the same material as Vanity Fair, but also mentioned how people are calling for Phillip Green to be stripped of his knighthood, awarded to him in 2006, over the most recent insult to the British public revolving around its National Health Service (NHS).
Members of the Lewisham and Greenwich NHS Choir had received costumes donated by Arcadia, one of Phillip Green’s companies. But they refused to perform at an Arcadia Christmas party in a show of support for BHS workers. So Green then demanded that the costumes be returned.
“Everyone is taking the piss out of me. Tell your fucking choir to perform at the party or pay me back for the fucking clothes,” Green reportedly said.
No matter of what one thinks of Sir Phillip Green’s business dealings, this was not a smart move for a rich Jew to make at Christmas time.Read more about: British Home Stores (BHS), Sir Philip Green