The Sunday Times Magazine – 7 May 2017

Rich List 2017

36 • thesundaytimes.co.uk/richlist

CALLED

TO

ACCOUNT

L

ast year was an annus horribilis for

Sir Philip Green and Mike Ashley,

the two self-appointed emperors of

the high street.

Green, who calls himself the “Big

Emp”, saw his reputation trashed by

the fallout from the collapse of the

department store BHS, as MPs

branded him a “billionaire spiv” and voted

to strip him of his knighthood.

The Newcastle United owner Ashley,

whom Green fondly calls the “Little Emp”,

came under pressure as the financial

performance of his Sports Direct discount

chain stuttered and a simmering

corporate governance dispute with City

shareholders boiled over, leading to the

departure of his long-standing right-hand

man, Dave Forsey. Ashley said he felt “like

I have lost my right arm” as he stepped

into the chief executive’s role, having

previously held the odd title of executive

deputy chairman.

Green, 65, and Ashley, 52, are both

well-fed figures who enjoy money and

ostentatious consumption — although

Ashley has kept a lower media profile.

They are said to have known each other

They dominate the high street and

own some of its biggest brands. But

the past 12 months have seen both Sir

Philip Green and Mike Ashley suffer

a fall — down £700m between them

in today’s Rich List and hauled before

parliament to explain their business

practices. Oliver Shah, our City editor

who has led the way in reporting

on the turmoil, charts a chastening

year for the rag-trade tycoons

41 £2.787bn £433m▼

SIR PHILIP AND LADY GREEN

Retailing