Founder of sports equipment company Net World Sport named Britain’s richest young entrepreneur
One made a fortune selling football goals, while another began his journey to fortune by hacking into his school’s computer network.
Today, they rank among Britain’s richest young entrepreneurs.
Here are five of the money bug bites on this year’s Sunday Times Rich List …
Sports fan Alex Loven started his Wrexham-based Net World Sports business in 2009, and now sells over 100,000 football goals a year with sales of almost Â£ 20million in 2016-17.
Name: ALEX LOVEN (30 years old)
Company: NET WORLD SPORTS
Value: Â£ 55million (in 2016-2017)
The man behind sports equipment company Net World Sports has become the UK’s richest young entrepreneur on the Sunday Times Rich List.
Sports fan Alex loven started his Wrexham-based business in 2009, and now sells over 100,000 football goals a year with sales of almost Â£ 20million in 2016-17.
This helped make the 30-year-old worth Â£ 55million, up Â£ 28million from the previous year.
Mr Loven’s first job was with a builders’ dealer when he was 17, where he was paid Â£ 4.50 an hour. However, since the age of 13, his hobby was selling sports equipment.
The inspiration to start Net World Sports came when he bought a cricket bat on eBay for Â£ 60.
He found out that they actually only cost Â£ 6 to make, so he bought ten more, sold them for Â£ 60 each – and his business was born, he told Metro last month. .
Name: JACK CATOR (29 years old)
Company: Privax (company behind online privacy service Hide My Ass)
Value: Â£ 45million
Next on the list is Jack Cator, CEO and Founder of Privax, the company behind the online privacy service HideMyAss.com which was acquired by AVG Technologies in 2015.
Mr Cator has remained stable with a fortune of Â£ 45million.
Jack Cator, worth Â£ 45million, is the Managing Director and Founder of Privax, the company behind online privacy service HideMyAss.com which was acquired by AVG Technologies in 2015
He was only 16 when, in 2005, he became frustrated with his high school in Norfolk, shutting down his network to prevent students from visiting music and gaming websites.
To work around this problem, he hacked into the system and used a VPN (Virtual Private Network) – which allows users to surf the Internet privately and anonymously, through a remote server.
However, he was not happy with the quality of the VPNs he found, as they were too difficult to use and contained a lot of ads. So he created his own and Hide My Ass was born.
Joshua Stevens, worth Â£ 30million, owns and runs One Retail Group. It came in third and is a new entry on the Sunday Times’ rich list for young entrepreneurs
Name: JOSHUA STEVENS (29 years old)
Company: ONE RETAIL GROUP
Value: Â£ 30million
Joshua Stevens, worth Â£ 30million, came in third and is a new entry on the Sunday Times’ rich list for young entrepreneurs.
Mr. Stevens owns and heads One Retail Group, which is made up of six consumer brands, including the Active Era outdoor equipment brand and Pro Breeze home appliances.
The 29-year-old owns his entire Hampstead-based business, which made a profit of Â£ 3.3million on sales of almost Â£ 14million last year.
Mr Stevens grew up in London and attended Haberdashers ‘Aske’s Boys’ School in Elstree.
At the age of 14, he started buying cell phones in China – and so started an import business from his bedroom, where he developed his skills in dealing with suppliers all over the world.
After graduating in business and IT from the University of Warwick, he became a bond and equity trader at the City of London.
Two years later, he realized he really wanted to run his own business.
âI realized that I didn’t want to work for anyone. I wanted to do what I loved the most, which was to manufacture, import and sell physical products, âhe told London Loves Business.
Mr. Stevens was 24 when he decided to put all of his early business experiences to good use.
He founded multinational retailer One Retail Group in 2013 with a portfolio of lifestyle, personal care and appliance brands.
Tom Makin (above) is one of the children of JD Sports co-founder David Makin. Tom and his sister Amy Mason each own a nearly 7.5% stake in the Footasylum chain of stores
Names: AMY MASON (29) and TOM MAKIN (28)
Value: Â£ 25million combined
A team of siblings placed fourth on the list of young entrepreneurs, worth Â£ 25million.
Amy mason, 29 and Tom makin, 28, are the children of JD Sports co-founder David Makin, and each has a nearly 7.5% stake in footasylum shoe and sportswear chain.
Footasylum has a market value of Â£ 165million and over 65 stores.
The company, which makes activewear for 16 to 24 year olds, was started by David Makin and John Wardle in 2005 and sells a mix of branded and third party clothing such as Nike and Calvin Klein.
Popular in-house lines Kings Will Dream, Glorious Gangsta and Gym King also sell a range of clothing, footwear and accessories, with prices up to Â£ 75.
David Makin, with his son Tom, watching a Man City game against Sheffield in 1998. Tom and Amy are worth Â£ 25million.
Name: AKSHAY RUPARELIA (19 years old)
Company: DOORSTEPS (online real estate agents)
Value: Â£ 16million
Youngest person to cut is 19 Akshay Ruparelia who created Harrow-based online estate agent Doorsteps, selling properties for as little as Â£ 99.
He used a Â£ 7,000 loan from his family and now employs over 25 people, with around 2,000 properties on the books.
Mr Ruparelia is worth Â£ 16million, tied for seventh place.
Akshay Ruparelia, who is worth Â£ 16million, set up Harrow-based estate agent Doorsteps, selling properties for as little as Â£ 99.
Mr. Ruparelia – nicknamed Alan Sugar by his friends – started his online real estate agency when he was still in sixth grade.
At the start of doorsteps.co.uk, he hired a call center service to answer his company’s switchboard while he was in class and called back customers after the school bell rang.
At the same time, he was also studying for the exams at Queen Elizabeth High School in Barnet, North London, and still managed to get five A’Levels, three at A * and two A’s in math, economics, politics. , history and finance. studies.
Meanwhile, at home, Mr. Ruparelia was responsible for looking after his parents.
Speaking on This Morning last year, he said taking on this responsibility at a young age has helped him improve his time management and other skills essential to growing a business.
The confident teenager is on a mission to put traditional High Street estate agents out of business as they charge thousands of pounds in commission to sell a house and he can do it for just Â£ 99.
Robert Watts, the compiler of The Sunday Times Rich List, said, âIf you’re good enough, you’re old enough.
âMany of these entrepreneurs cut their teeth when they were still teenagers and were born after the publication of the first Rich List in 1989.
âTheir stories underscore that GCSEs, A-levels and diplomas are not the only route to success. “
âTechnology has made it easier than ever for young men and women to start their own businesses.
âA laptop, a mobile, imagination and determination may be all you need to build a strong business – and one that can now attract customers from all over the world,â added Watts.
The full list of the Sunday Times Rich List 2018 will be released on Sunday, May 13.