Theo Paphitis Net Worth 2022 – A Closer Look At The Dragon
Theo Paphitis has a net worth of over £290 million in 2022 according to the Sunday Times Rich List. This retail mogul has made the majority of his wealth by wise investments, and by using his common sense, he says. This British-Greek entrepreneur is best known for his tv appearances on Dragon’s Den, as well as being the former chairman of the Millwall Football Club.
From being a tea boy and filing clerk to a multi-million-pound businessman in a few years, makes Theo Paphitis an extraordinary magnate. He even battled dyslexia at school, but from an early age, he had a knack for retail by working at his school’s tuck shop.
So, how did he make his millions?
Keep reading for an in-depth look at Paphitis.
Theo Paphitis – Quick Facts
Full Name: |
Theodoros “Theo” Paphitis |
Date of Birth: |
24 September 1959 |
Wife: |
Debbie Paphitis |
Kids: |
5 children |
Title: |
Entrepreneur, Investor, Tv Personality, Chancellor |
Industries: |
Retail, University Chancellor |
Lives: |
Weybridge, Surrey, UK |
Where He Ranks Among The Top Dragon’s
Dragon |
Networth |
Theo Paphitis |
£290 Million |
Deborah Meaden |
£60 Million |
Nick Jenkins |
£150 Million |
Peter Jones |
£450 Million |
Tej Lalvani |
£420 Million |
Duncan Banytyne |
£400 Million |
Touker Sulyman |
£200 Million |
His Early Life
Theo Paphitis was born in Limassol, a small city in Cyprus. He is the second born child and has
2 brothers, as well as to half brothers. His family moved to Manchester, UK, where he grew up. At the age of 9, he moved to London with his family and battled dyslexia in school.
Where Did He Make His Money?
Theo Paphitis initially started off as a filing clerk for an insurance company. He wanted to make more money and at the age of 18, he worked in retail as a sales assistant for Watches of Switzerland. This was when he realised that his passion was in retail.
When he turned 21 he joined Legal and General, a business specialising in commercial mortgages. This was where he sold these mortgages and learned to read business balance sheets.
At the age of 23, Paphitis started his own property finance company with a friend. In the 1980’s he started making real money in the commercial property market. During the 80’s he also noticed that mobile phones would become a big deal, and he bought into NGA Telecoms. He then became chairman alongside director Tony Kleanthous.
Paphitis then gained a large share in NGA, as he negotiated reduced rate positions with Ryman stationery stores.
Ryman went bankrupt in the meantime, and this was when Paphitis bought the store over and turned it around. He did this by working hard to improve client relations and enthuse those who worked for the business. He was able to turn a company that had become bankrupt into a profitable business.
He has now invested in many different ventures including, Robert Dyas, a hardware retailer in the UK, and a luxury lingerie store called Boux Avenue.
In 2011, he also sold his share in La Senza lingerie stores for a reported £100 million.
Recently in 2016, he also acquired a London Graphic Center. This is a stationery and art supplies store.
As you can see his rise to wealth took some time, but by making the right financial investments it all paid off.
Football and TV
In 1997 Paphitis took Millwall out of administration and onto the FA Cup Final in 2004. He is well known for reducing football hooliganism. He was chairman of Millwall for about eight years before he stepped down in 2005. He is also a director and part-owner of Walton & Hershman He also became a sponsor for cup tournaments with Robert Dyas and Boux Avenue.
In 2005, Paphitis joined Dragon’s Den and made many investments on his own, and with other-fellow Dragon’s. He was well known for being direct, as well as sincere. He left the show in 2013, but rejoined for a few episodes in 2019, while Touker Sulyeman was recovering from an illness.
He was also featured in many other different tv shows namely:
- Back to the Floor
- Theo’s Aventure Capitalists
- Britain’s Next Best Thing
- Question Time
- Famous Rich and Hungry
Which businesses did Paphitis invest in on Dragon’s Den?
Theo Paphitis invested in 45 business during his time as a Dragon.
The most successful business he invested in along with Deborah Medan, was a company called Magic Whiteboard. They managed to make an £800,000 return on their £100,000 investment.
Personal life
Theo Paphitis now lives in Surrey, UK with his wife. They have 2 sons and 3 daughters, as well as four grandchildren. His one daughter, Zoe Paphitis is an actress and is best known for appearing on the TV series Dream Team.
Theo is an avid car collector and loves personalised number plates. He also owns a 40-meter yacht and has a love of boats.
In Conclusion
Theo Paphitis is a retail mogul with a passion for sales. He followed what he loved, and that made him rich. Common sense is one of his greatest attributes in business, he says, and even though he was branded “lazy” at school, he was able to make millions.
