Theo Paphitis was born on 24th September 1959, in Limassol, Cyprus, and is an entrepreneur who has obtained his wealth from the retail sector. However, he is best known for starring in the television programme “Dragons’ Den” (2005 – present) aired on BBC 2. Paphitis has been active in the business industry since 1977.
How much is the net worth of Theo Paphitis? It has been reported by authoritative sources that the overall size of his wealth is as much as $470 million, as of the data presented in late 2017. Entrepreneurship is the major source of Paphitis’ fortune.
Theo Paphitis Net Worth $470 Million
To begin with, the boy was initially raised in Limassol, but moved to England with his parents and his brother when he was six years old. Theo was taught at Ambler Primary School, and later at Woodberry Down Comprehensive School located in North London. He is known to have suffered from dyslexia from birth, but regardless, when he was fifteen years old, he started his business career in the canteen of the school.
After the graduation, he started working as a teaser and filing officer in an insurance brokerage based in London. Later, while working in the Bond Street retail centre, he realized that his passion was in sales and possibly retail. At the age of 21, he started to work at the Legal & General in commercial mortgage sales, where he learned to read other businessmen’s chapters. He started selling mortgage business loans, and thanks to this job he also learnt to read business balance sheets. His ambition to succeed led him to founding his own real estate finance company, and in the 1980s, while commercial property prices were taking off, Paphitis earned his first money from the big surpluses that were created. His attention was drawn to cell phones, and with the money from the real estate, he purchased NAG Telecom, and subsequently worked with the Ryman stationery chain to sell mobile phones and thus gain market share.
In 2006, Theo sold his share of La Senza international ladies chain stores in Great Britain, and received $160 million. In 2008, he attempted to buy Woolworths, but eventually withdrew after finding unreasonable redemption requirements. In 2011, he was back in the lingerie market by creating the Boux Avenue chain, and in 2012 he bought the Robert Dyas house chain store. All of this led to the creation of a retail group operating in various items, and which has a total of 349 stores, with 3,600 employees, and serving 28,000,000 customers each year.
In addition to outstanding entrepreneurship, Theo is known as the former chairman of the professional football (soccer) club based in Bermondsey, South East London – Millwall FC. Since 2005, he has been in the main cast of the reality television series “Dragon’s Den” broadcast on BBC 2.
Overall, all the above mentioned engagements have added sums to the total size of Theo Paphitis’ net worth.
Finally, in the personal life of the entrepreneur, he is married to Debbie Paphitis, and the family has two boys and three girls. Theo Paphitis is known as an avid supporter of Brexit.
