Dermot Desmond

Quick Facts

Full Name	Dermot Desmond
Date Of Birth	Aug 14, 1950(1950-08-14)
Age	74
Birthplace	Macroom
Country	Ireland
Birth City	County Cork
Horoscope	Leo

Dermot Desmond Biography

Dermot Desmond is one of the most popular and richest Businessman who was born on August 14, 1950 in Macroom, County Cork, Ireland.

In 1968, Desmond’s business career began with Citibank in Dublin, followed by Pricewaterhouse Coopers in Kabul, Afghanistan.

In 1981, he founded National City Brokers in Dublin. The company competed with already established stockbroking names in Dublin such as Davy’s and Goodbodys. Desmond sold the company to Ulster Bank in 1994, which at the time was part of the National Westminster Group, for a reported £39 million. Subsequently, as a result of Natwest’s takeoever in 2003 by RBS, NCB was bought out by its management with the support of former billionaire businessman Sean Quinn who was believed at that time to control 25% of the company.

Desmond was born in Macroom, County Cork in 1950 and grew up in Marino, Dublin. He was educated at Scoil Mhuire, Marino and Good Counsel College in New Ross. He left school in 1968 to work at Citibank in Dublin.

Dermot Desmond Net Worth

Net Worth: As of 2020, the net worth of Dermot Desmond is estimated to be around $2 billion USD, making him the ninth-richest individual in Ireland, according to a Sunday Independent report. His wealth is diversified across several investments and assets which include luxury resorts, airports, technology, banking sector and sports teams.

Career and Financial Growth: Dermot Desmond started his career in 1968 at Citibank followed by Price Waterhouse in Kabul, Afghanistan. In 1981, he founded the notable National City Brokers which he sold to Ulster Bank in 1994 for about £39 million. This marked a significant milestone in his financial success. His savvy investments such as backing the Fran Rooney-led consortium to purchase Baltimore Technologies and buying London City Airport at a time when the Docklands was in recession exemplify his knack for spotting profitable business ventures.

Source of net worth: Desmond’s wealth primarily arises from his successful business ventures and strategic investment decisions. As a businessman, his major achievements include founding the private equity firm International Investment & Underwriting (IIU), purchasing the luxurious five- star Sandy Lane Hotel with business partners John Magnier and J.P. McManus, and buying London City Airport, which turned out to be an incredibly profitable investment. Apart from these, in 2000, he even founded Global Betting Exchange trading as BETDAQ. Desmond’s association with the banking sector also contributed significantly to his fortune, such as his purchase of 33.1% of Latvian Rietumu Banka in 2005.

Personal Projects and Ventures: Outside of his primary business ventures, Dermot Desmond is also known for his involvement in sports teams. He is the largest individual shareholder of the Scottish Premiership football club Celtic F.C., and also has a 25% stake in the League of Ireland club Shamrock Rovers. Desmond even had a stake in Manchester United, but he sold it to Malcolm Glazer in 2005.

Philanthropy: Philanthropy is common among influential business figures, however specific charitable works undertaken by Dermot Desmond are not well- documented publicly. Regardless, his financial success provides him the capacity to support important causes and give back to the society.

Recent Developments: Recently, Desmond has increased his shares in the Toronto mining company Mountain Province Diamonds to 28%. This development in his business ventures could influence his net worth based on economic trends and potential profitability of the mining industry. He also secured planning permission to construct a palatial mansion on Shrewsbury Road, an exclusive address in Ireland. The value of this property could substantially increase his net worth in future. His financial standing may also be influenced by external economic factors such as market volatility, global economic conditions, and industry trends.

Height, Weight & Body Measurements

Dermot Desmond height Not available right now. Dermot weight Not Known & body measurements will update soon.

Who is Dermot Desmond Dating?

According to our records, Dermot Desmond married to Pat Desmond. As of January 13, 2024, Dermot Desmond’s is not dating anyone.

Relationships Record : We have no records of past relationships for Dermot Desmond. You may help us to build the dating records for Dermot Desmond!

He was appointed chairman of the board of Aer Rianta in 1990 under the Charles Haughey government, but resigned in October 1991 amid the scandal over the purchase of the Johnston Mooney & O’Brien site by Telecom Éireann.

Facts & Trivia

Dermot Ranked on the list of most popular Businessman. Also ranked in the elit list of famous people born in Ireland. Dermot Desmond celebrates birthday on August 14 of every year.

In 1991, a company law inspector, solicitor John Glackin, was appointed by the then Government to investigate complicated dealings involving Mr Desmond and the purchase and sale of the former Johnston Mooney and O’Brien site in Ballsbridge, Dublin. While Mr Desmond represented himself as an intermediary in the sale, Glackin’s report said Mr Desmond, businessman JP McManus and John Magnier were beneficiaries of the sale. Mr Desmond strenuously disputed Glackin’s findings.

How did Dermot Desmond make his money?

Desmond was an investor in Esat Digifone through his International Investment Underwriters (IIU) vehicle, ultimately owning 20% of the company. It was reported that he made up to £100 million in profit after selling his stake in Esat.

What company does Dermot Desmond own?

Dermot Desmond received a €27.5 million cash windfall last year from Intuition Publishing , his Dublin-headquartered e-learning company. It brings to about €42.5 million the amount of cash he has received from the business in dividends and loans over the last two years.

Who is owner of Celtic?

CELTIC owner Dermot Desmond has revealed that he will not sell-up, no matter how big a bid is made for the club. The Irish billionaire is the club’s majority shareholder and has been heavily involved with the club for 27-years.

How much did Dermot Desmond buy Celtic for?

Dermot Desmond bought an effective 13.8 per cent in a placing of new shares in 1995 for £4 million sterling. The proceeds from the fund raising were used to bring the club back into profits.

Who is the richest person in Ireland?

Pallonji Mistry , with a net worth of $14.6 billion, is Ireland’s richest person.