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Palos, 36, bought 21 blocks of central London flats for £400m from Lloyds Banking Group in May 2010.
The stepson of billionaire retailer Sir Philip Green, Palos is the son of Lady Christina Green and her first husband, South African businessman Robert Palos.
In 2003, the entrepreneurial Palos Jr bought ISA, a Bradford office supplies group, out of administration.It was sold in 2007, netting Palos £35m.He immediately started reinvesting his money.
In 2009, Palos teamed up with Anthony Lyons and Simon Conway, to buy the 02 leisure and retail scheme on London’s Finchley Road for £92.5m.
Just over a year later they sold it for £126m, making a 36% profit. That profit and his new deals lift him to £64m.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2009 |
Sale of Asset |
Value of the 02 leisure and retail scheme on London’s Finchley Road upon sale (which he bought for $125 million along with business partners, Anthony Lyons and Simon Conway) |
$207,000,000 |
|
2009 |
Asset |
Value of the 21 apartment blocks across central London that he bought |
$600,000,000 |
|
2006 |
Sale of Asset |
Value of ISA, an office supplies group (which he bought in 2003) upon sale with the money to be used for reinvestment |
$57,000,000 |