Trading in gold bullion is usually seen as a licence to print money but, curiously, Formula One billionaire Bernie Ecclestone’s son-in-law has managed to post a loss.
I can disclose that James Stunt, who is married to Bernie’s 28-year-old daughter Petra, right, achieved an impressive turnover of £43.5 million with his business Stunt & Co.
However, newly published accounts at Companies House report that it made a loss of £842,000.
Trading in gold bullion isn’t in fact a licence to print money at all. It’s a very low margin business. Would be really rather astonished to find out that gross margins were over 1% to be honest.
It always strikes me as more the sort of business that people think should make you rich rather than one which does.