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Discussion in 'Off Topic' started by urban genie, 3 May 2018.
Well, im not on it, for a start.
And the person who is at the top of that rich list was brought up in a council house in Manchester.
Just how good is that on every level?
Without being born rich or going to public school either, wonder how he did it?
It’s fairly well documented to be honest.
He was a bright kid who did well at school and got a good degree in chemical engineering at university.
After working for a while he purchased under performing, loss making businesses from large companies
such as ICI etc and turned them around. He didn’t sell them he kept them as a group.
He then bet the farm buying another business for £40 million having to remortgage his house and risk his
life savings on it. He very nearly went bust doing it and survived by the skin of his teeth. As they say the
rest is history.
A genuine success story of a working class kid who worked his balls off, risked everything he had and succeeded.
How much is his student loan?
Bit of a misleading question that in that its not really a loan its more a tax on education as you only pay incrementally as your earnings increase. Its not on your "borrowing record" as it were so doesn't affect your ability to borrow like a car loan or mortgage would. I have found with my son that where it is a problem is its deflationary effect on graduate wages - firms can offer less and suppress wage increases as beyond a certain point a modest increase isn't worth having - it just goes to service the loan - you need a huge jump to increase and get sufficient out of it yourself. What they have invented is a different form of the old benefits trap where when you earned more it just meant you got a proportionate decrease in benefits