Source of Wealth:Leisure
Jamie Moffat and family have a net worth of £34 million as of April 2012, according to the Sunday Times UK Rich List. Moffat's largesse towards Kilmarnock football club continues even though he gave up control of the Killie five years ago. In 2010, he wrote off £900,000 of the £1.8m owed to him by the SPL strugglers. Moffat's late father Jim was club chairman. The family fortune comes from the AT Mays travel agency started in 1955 by Jim, a wartime RAF pilot, and his wife Margie. The firm grew rapidly and by 1982 there were 77 branches across the UK. At its peak it employed more than 2,500 staff. In 1987 the Moffat family sold a majority stake in the business to the Royal Bank of Scotland for shares rather than cash. The shares soared valuing the Moffat family stake at over £100m. The family is not listed as a large RBS shareholder in its own name any more. In 2007 the family's Moffat Charitable Trust was endowed with £50m by the family. After this and the decision to write off the Killie loan, the Moffat family should be left with perhaps £34m.
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