Famous entrepreneur Duncan Bannatyne is a very rich man, indeed. His wealth peaked at £430 million ($665 million) before his divorce in 2012. As of 2023, his total net worth is estimated to be approximately £180 million ($278 million). Bannatyne’s divorce allegedly cost £345 million, according to Daily Mail.
How Did Duncan Bannatyne Get So Rich?
Duncan was born 2 February 1949 in Clydebank, Scotland, United Kingdom. He left high school at age of 15 with practically no official qualification. Young Duncan worked as a cabinet-maker for a while before he joined the Royal Navy. He was dishonorably discharged however and sentenced to six months in military prison for trying to throw his commanding officer over the side of a ship, according to Evening Standard.
Several short-term jobs followed. The breakthrough moment came when he started operating his own ice cream van. It was a huge financial success for him. The first in his life. He bought more vans, hired drivers, and started building his first business. He sold it for £28,000 and focused on his new project, Quality Care Homes. He sold this nursing homes later for £46 million in 1996, according to Financial Times.
Bannatyne repeated his business success with children’s nursery chain Just Learning. In 2006, he married Joanne McCue. They divorced six years later. His net worth peaked in 2012. After that, it went down because of the significant divorce settlement as well as the decrease in real estate property value of his Bannatyne Fitness chain.
