What is Jamie Palumbo's Net Worth?
Jamie Palumbo is a British businessman who has a net worth of $250 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. Jamie attended Eton College (1976-81) and Worcester College, Oxford (1981- 84). On the Sunday Times Rich List 2011, he ranked 467 with an estimated net worth of £150 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 since expanded and the team has 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 and Tom Sackville, who was the Conservative Home Office Minister. The two worked together on the Drugs Misuse Act 1994. Jamie 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 but 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.
