Jamie Palumbo Net Worth is$210 Million
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Date of Birth: 1963
Nicknames: Jamie Palumbo
Country: United Kingdom
Jamie Palumbo is a British businessman he has a net worth of $210 million. Jamie Palumbo has earned his net worth as co-founder and Chairman of Ministry of Sound Group, the international music and nightclub business. Jamie was born June 6 1963; his father Lord Palumbo was the Conservative peer and former Chairman of the Arts Council. Palumbo attended Eton College (1976-81) and Worcester College, Oxford (1981- 84).And on the Sunday Times Rich List 2011, he ranked 467 with an estimated net worth of lb150 million. Palumbo worked for some major players such as; Merrill Lynch form 1984-198, Morgan Grenfell from 1996-1990, Hambro Magan from 1990-1992, he started the Ministry of Sound Nightclub located in South London in the fall of 1992, with his friend Humphrey Waterhouse , and DJ Justin Berkman. The Ministry of Sound Nightclub was modeled after the discotheque in New York known as Paradise Garage. The club was an immediate success it featured the wave of dance music then popular in the UK, and held a 24 hour license. Ministry of Sound has expanded, they have acquired several other brands such the purchase in 2006 of HedKandi from the guardian Media Group for an unknown amount of money. Palumbo has a large circle of friends in politics, including Lord Mandelson, the former Labor cabinet minister. Also Simon Hughes, the Deputy Leader of the Liberal Democrats, Palumbo has been a supporter since 1991and Tom Sackville, who is the Conservative Home Office Minister, the two worked together on the Drugs Misuse Act 1994. He is the author of a book about greed and corruption in the modern world titled TOMAS; it was published by Quartet in July 2009. Palumbo has never married; currently he lives in London with Rawipim Paijit his Thai friend of twenty five years. His son, Alessandro, was born in March 1991, his mother Iranian Atoosa Hariri.
James "Jamie" Palumbo is the co-founder and Chairman of Ministry of Sound Group, the international music and nightclub business. He was born in London on June 6, 1963, and educated at Eton College (1976-81) and Worcester College, Oxford (1981-84). He was listed in the Sunday Times Rich List 2011 in 467th place with an estimated fortune of lb150 million.
After working in the City - Merrill Lynch (1984-86), Morgan Grenfell (1986-90), Hambro Magan (1990-92) - Palumbo opened the Ministry of Sound nightclub in South London in September 1991 with school friend Humphrey Waterhouse and DJ Justin Berkmann.
The club, modelled on the Paradise Garage in New York, had a 24 hour licence and rode the wave of dance music then popular in the UK. However, Palumbo lost control of the club to drug dealers. A fight to regain control followed.
Since its inception Ministry of Sound has expanded into a number of areas including music, live events, bars, consumer electronics, merchandise, beauty and other lifestyle products. The business has also acquired a number of other brands including HedKandi, acquired in 2006 from the Guardian Media Group for an undisclosed sum.
Ministry of Sound has offices or operates venues in Germany, Australia, USA, Egypt, Malaysia and Spain. Its touring operations comprise over 2,000 events per annum in over 30 countries.
Ministry of Sound Recordings has sold over 50 million albums to date, and is the largest independent music company in the world. Its artists include; Example, Wretch 32, Eric Prydz, Fedde Le Grand and Yasmin.
Millions interact through Ministry of Sound's digital channels including its websites and social networks Facebook and Twitter. Ministry of Sound is also the largest supplier of dance music through Apple's global iTunes service.
In 2001 Palumbo sold 16% of the business to 3i for lb24 million. In 2008 Lohan Presencer became Chief Executive, Palumbo remains Chairman of the Group.
Palumbo was estranged at an early ag

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