| James Palumbo | |
|---|---|
| Born | June 6, 1983 London |
| Known for | Ministry of Sound |
James "Jamie" Palumbo is the co-founder and Chairman of Ministry of Sound Group, the international music and nightclub business.[1] He was born in London on June 6, 1963, and educated at Eton College (1976–81) and Worcester College, Oxford (1981–84).[2] He was listed in the Sunday Times Rich List 2011 in 467th place with an estimated fortune of £150 million.[3]
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After working in the City – Merrill Lynch (1984–86), Morgan Grenfell (1986–90),[4] Hambro Magan (1990–92) [5] - Palumbo opened the Ministry of Sound nightclub in South London in September 1991 with school friend Humphrey Waterhouse and DJ Justin Berkmann.[6]
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.[7] However, Palumbo lost control of the club to drug dealers. A fight to regain control followed.[8]
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.[9] The business has also acquired a number of other brands including HedKandi, acquired in 2006 from the Guardian Media Group for an undisclosed sum.[10]
Ministry of Sound has offices or operates venues in Germany, Australia, USA, Egypt, Malaysia and Spain.[11] Its touring operations comprise over 2,000 events per annum in over 30 countries.[12]
Ministry of Sound Recordings has sold over 50 million albums to date,[13] and is the largest independent music company in the world.[14] 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.[15]
In 2001 Palumbo sold 16% of the business to 3i for £24 million.[16] In 2008 Lohan Presencer became Chief Executive, Palumbo remains Chairman of the Group.[17]
Palumbo was estranged at an early age from his father Lord Palumbo, the Conservative peer and former Chairman of the Arts Council.[18] In 1994 he launched legal proceedings with his sister Annabella Adams claiming his father had mismanaged the family Trust, set up by his grandfather Rudolph, a successful property developer.[19] In 1997 his father stepped down as a Trustee and new Trustees were appointed to manage the family affairs.[20] In 2010 new proceedings were launched relating to another family Trust, this time with Annabella Adams and his younger sister Laura Tikoo.[21] The outcome of these proceedings is pending.
Palumbo has a number of friends in politics. These include Lord Mandelson, the former Labour cabinet minister, to whom he loaned a chauffeur-driven car during the 1997 Election campaign,[22] Simon Hughes, the Deputy Leader of the Liberal Democrats, who he has supported since 1991[23] and Tom Sackville, the Conservative Home Office Minister with whom he worked on the Drugs Misuse Act 1994.[24]
Palumbo’s debut novel, TOMAS, about greed and corruption in the modern world was published by Quartet in July 2009.[25]
“Absolutely amazing” Stephen Fry
“I loved it” Claudia Winkleman
“Either mad or genius or both” Rory Bremner
“As grotesque as it is gripping” Niall Ferguson
"Should be on the long list for the Man-Booker prize" Peter James
"Savage satire of the highest calibre" Monocle
His second novel, TANCREDI, was published by Marlborough Press in September 2011.[27]
Palumbo has never married. He lives in London with his Thai friend of twenty five years, Rawipim Paijit.[28] He has one son, Alessandro, born in March 1991 to his Iranian mother Atoosa Hariri.[29]