Royals chairman valued at £305million

By Mark Sugar
April 19 2004

Royals Chairman John Madejski has been valued at an amazing £305million in the Sunday Times Rich List for this year.This in an increase of £45million from last year.Here we have the the story of how Madejski made his fortunes.

Reading Chairman John Madejski has been named the 142nd richest man in England according to the Sunday Times Rich List. Madejski, now 62 is valued at an amazing £305million, which is an increase from the £260million he was valued at this time last year. The Sunday Times wrote the following article on him.

In February Madejski, 62, purchased a sculpture by Edgar Degas, La Petite Danseuse de Quatorze Ans, at Sotheby's. With the buyer's premium included, the bronze figurine set him back more than £5m but he considers it a bargin. "The bidding started at £3.2m and went up to £4.2m very quickly," he says. "I stuck my hand up and immediately there was a wall of silence. All I could hear was the gaval coming down. I felt there had been some sort of a mistake as I was expecting it to for more than £7m." Madejski promptly loaned it to the Royal Academy for display in the the Fine Rooms at Burlington House, restored to their 18th-century glory after a £3m donation from the tycoon. Art is one of Madejski's passions; another is cars - he keeps a Ferrari in a glass case at his home. Visit Reading and his influence is inescapable. He is chairman of Reading football club and has spent £40m on the First Division side's Madejski Stadium. His name is also attached to a hotel, an art gallery and a lecture theatre in the town. Madejski launched Auto Trader magazine in 1977 and its formula or featuring pictures of the cars for sale proved highly successful. In 1998, he netted £174m from the sale of its parent company, Hurst Publishing. Madejski now has business interests around the world from a hotel in the Galapagos Islands to a bottling plant in China and is easily worth £305m.

2003: £260m, 129=

Below is the football rich list with the richest men in football in the UK.

Fortunes are personal or family wealth 1 Joseph Lewis Tottenham Hotspur/Rangers £1,800m 2 The Moores Family Liverpool £1,255m 3 Fred Walker Blackburn Rovers £650m 4 David Sullivan Birmingham City £500m 5 Mohamed al-Fayed Fulham £486m 6 David Gold Birmingham City £465m 7 Harry Dobson Manchester United £444m 8 Steve Morgan Liverpool £312m 9 David Murray Rangers £267m 10 John Madejski Reading £260m 11 Peter Harrison Chelsea £240m 12 Dave Whelan Wigan Athletic £194m 13 Sir Elton John Watford £170m 14 Sir Jack Hayward Wolverhampton Wanderers £141m 15 Paul Gregg Everton £127m 16= Danny Fiszman Arsenal £125m 16= Barry Rubery Huddersfield Town £125m 18 Sir Tom Farmer Hibernian £120m 19 Sir Richard Storey Sunderland £110m 20 Martin Edwards Manchester United £108m 21 Michael Sherwood Watford £103m 22 Owen Oyston Blackpool £90m 23= Steve Gibson Middlesbrough £85m 23= Theo Paphitis Millwall £85m 25 Firoz Kassam Oxford United £76m 26 Kevin McCabe Sheffield United £70m 27 John Boyle Motherwell £68m 28= Eddie Davies Bolton Wanderers £60m 28= Chris Ingram Woking £60m 30 Peter Johnson Everton £52m 31 David Beckham Manchester United £50m 32 Fergus McCann Celtic £45m 33 Max Griggs Rushden & Diamonds £41m 34 Sam Hammam Cardiff City £40m 35 Sir Alex Ferguson Manchester United £30m

Below is John Madejski's history.

Born April 28, 1941, in Stoke-on-Trent.

Educated in a succession of private schools

Late 1950s Joins Huntley and Palmer as a biscuit salesman. Acquires his first sports car

1964 Goes to California. Works on a ranch, then as a car salesman

1966 Returns to Britain

1969 Joins the Reading Evening Post as classified sales executive

1976 Founds Auto Trader

1990 Becomes chairman of Reading FC

1998 Sells his interest in Auto Trader for £170 million. Madejski Stadium opens

2000 Appointed OBE

Whatever said about John, Reading Football Club wouldn't be at the stage its at today without him. A true Reading legend!