Bernard Charles Ecclestone is a British business tycoon who was born on October 28, 1930. Also, he used to be the CEO of the Formula One Group, which runs Formula One motor racing and owns the commercial rights to the sport. He owns a piece of Delta Topco, which used to be the Formula One Group’s parent company. In the press, he was often called the “F1 Supremo” because of this.
Bernie Ecclestone: Net Worth
The net worth of British businessman Bernie Ecclestone is $3.3 billion. In 2011, he was ranked as the fourth-wealthiest individual in the UK, with a net worth of $4.2 billion. The decrease in his net worth is likely the result of a semi-recent divorce settlement in which his ex-wife Slavica Ecclestone reportedly received between $1 billion and $1.5 billion. Petra and Tamara Ecclestone, his daughters with the former Armani model Slavica, are both well-known socialites, models, and businesswomen.
Bernie Ecclestone: Early Life Details
Bernard Charles Ecclestone was born in Suffolk, England on October 28, 1930. Ecclestone, the son of a fisherman, moved to London with his family at a young age. He remained in London throughout the Second World War, even as the Germans bombarded the city. At the age of 16, Bernie quit high school and began working in a chemical laboratory. Later, he studied chemistry at Woolwich University.
Bernie Ecclestone: Career Details
Immediate following the conclusion of World War II, Ecclestone began trading in motorcycle spare parts and co-founded the Compton & Ecclestone motorcycle dealership with Fred Compton. In 1949, he participated in the 500cc Formula 3 Series and in 1951, he acquired a Cooper Mk V.
He participated in a limited number of races, primarily at his home track, Brands Hatch, but gained a number of top finishes and the occasional victory. Following repeated incidents at Brands Hatch, he initially retired from racing in order to focus on his business interests.
Bernie Ecclestone: Controversial Statement
Bernie Ecclestone has made contentious statements in the past. He once stated that Hitler “got a lot done” and “could command a large number of people.” Various Jewish organisations have since expressed their outrage. He also stated that “democracy has not done many countries much benefit.”
Bernie Ecclestone: Bribery Accusations
During the trial of a German bank executive in 2012, Ecclestone was charged with bribery. According to court documents, Ecclestone promised the banker $44 million to “urge” him to dispose of the lender’s Formula One investment. In 2014, Bernie was given the option to pay a 60 million-pound settlement in lieu of facing bribery accusations in court.
Bernie Ecclestone: Tax Evasion Allegations
Due to the bribery case, an investigation concluded that Ecclestone avoided almost 1.2 billion pounds in taxes to the United Kingdom over the period of nine years. Ultimately, Bernie was able to settle the dispute by paying 10 million pounds.
Bernie Ecclestone: Racing Career
Bernie began his career in motorsports after World War II by dealing and selling motorcycle spare parts. Eventually, he opened up his own motorbike dealership. In 1949, he raced a Formula Three car for the first time. Even though he only spent a short period of time behind the wheel, he had a respectable career in auto racing. However, a series of mishaps compelled him to quit from professional racing and pursue other endeavours.
Bernie Ecclestone: Real Estate
In 2004, Bernie Ecclestone got 57.1 million pounds for selling one of his properties in London’s Kensington Palace Gardens. Before selling the large estate, Bernie had never even been there.