John Caudwell has a £1.5bn fortune, but claims he doesn't like splashing the cash
Despite living in the UK's most expensive home and owning a luxury yacht and vintage cars, one British billionaire says he hates splurging his money. He might be known for his his flashy wardrobe of glittery jackets, the 71-year-old says he prefers to shop on the high street for staples, with one pair of jeans costing him just £29 from Zara.
READ MORE: Parklife 2024 pictures as heavy rain hits festival with thousands heading into Heaton Park John Caudwell, the billionaire founder of Phones4U, has emerged as a self-made man, starting from humble beginnings. He said: "We sat on orange boxes, borrowed a stove from my mother's caravan and cooked bean on toast on that until we eventually got out of the poverty trap. But I didn't see it as a struggle. It was just where we were at that point."
The colossal wealth that affords such extravagance was accumulated through a well-timed investment in mobile phones during the 1980s. Together with his brother Brian, John registered Midland Mobile Phones as a wholesaler of mobile phones in 1987, snapping up a modest batch of 26 Motorola mobiles for the princely sum of £1,350 each.
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