Richard Desmond
Overview
- Source of Wealth
- Publishing
- Industry
- Media & Entertainment
- Residence
- London
- Marital Status
- Married
- Children
- 3
Assets
- Reach PLC0 shares @ --RCH-GB
Biography
Richard Desmond founded Northern & Shell, which published the Daily Express newspapers, OK! and Star magazines, and operates UK's Health Lottery.
Desmond was raised by his secretary mom in a garage apartment. His parents divorced after his dad, an advertising executive, gambled away their savings.
Desmond cofounded his first magazine, International Musician and Recording World, at age 22, then became Penthouse's UK licensee.
He expanded to titles like Asian Babes and Posh Housewives, then sold some holdings and went mass market, launching OK! and buying Express Newspapers, including the Daily Express, Sunday Express and Daily Star from United News & Media.
In 2018 he sold N&S' publishing arm, including its newspaper and magazine titles, to rival Trinity Mirror (now Reach PLC) for about $177 million in cash plus shares.
About
In 2003, Desmond created the band RD Crusaders with Roger Daltrey from The Who and other musicians.
He quit school at age 14 to become a drummer, then dressed up in his older brother's suit to land a job selling newspaper ads over the phone a year later.
After expanding the Northern & Shell's portfolio into adult-themed photography, Desmond was labeled a ?porn baron? from the press for objectifying women.