Peter Kendal Hargreaves CBE (born 5 October 1946) is an English co-founder with Stephen Lansdown of Hargreaves Lansdown, one of the United Kingdom’s largest financial services businesses. He is a shareholder of Hargreaves Lansdown but no longer a director or employee.
Early life
Hargreaves was born in Clitheroe and educated at Clitheroe Royal Grammar School in Lancashire.
Career
Trained as an accountant, Peter Hargreaves initially worked as a computer salesman. He then started Hargreaves Lansdown trading from a bedroom in 1981; in 2010, he stood down as chief executive, receiving £18 million in payouts from dividends. He was succeeded as CEO by Ian Gorham. He is reportedly now worth £1,025 million according to the Sunday Times Rich List 2011.
Hargreaves joined the board of ITM Power in February 2004 as a non-executive director: he has invested heavily in ITM Power. In March 2016 he joined the Leave.EU movement to campaign for the UK’s exit from the European Union.
Honours
Hargreaves was appointed Commander of the Order of the British Empire (CBE) in the 2014 New Year Honours for services to business innovation, financial services, and the City of Bristol.
Politics
Hargreaves financially supported the Leave.EU campaign in 2016, and wrote to 15 million UK householders asking them to support the leave campaign in the European Union membership referendum.
Hargreaves said that the Brexit will lead to insecurity, which will turn out be very effective. His shares on the stock markets however went down about £400 million after the 2016 United Kingdom European Union membership referendum. Hargreaves answered that this fall may soon change, the companies in the FTSE 100 Index may turn out to be very profitable because of the referendum decision.
Summary
| Peter Hargreaves | |
|---|---|
| Born | Peter Kendal Hargreaves 5 October 1946 Clitheroe, Lancashire |
| Residence | West Country, U.K. |
| Nationality | British |
| Education | Clitheroe Royal Grammar School |
| Occupation | Businessman |
| Known for | Co-founder of Hargreaves Lansdown |
| Net worth | £2.39 billion |
Peter Hargreaves is the co-founder of Hargreaves Lansdown and he has an estimated net worth of $3.3 billion as of April 2016, according to Forbes. Along with Stephen Lansdown, they founded the financial service company out of a spare bedroom in Bristol, England in 1981. It later became one of the largest financial services businesses in United Kingdom with around $48 billion in assets under management. With his estimated net worth of $3.3 billion, Mr. Hargreaves is the 21st richest person in the United Kingdom and is ranked 641st in the list of World Billionaires. He has earned his net worth as the executive director of the firm. Its online investment management system called Vantage has contributed 78% or $290 million to the company’s top line last year.
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