Oh no they don’t!

Two brothers from Blackburn whose parents came to Britain “with nothing” stand to gain a £5bn fortune by floating their petrol station empire.

The company currently exists and they own half of it. Therefore they currently have a fortune.

True, it might become a little larger, as significant stakes in listed companies tend to be worth more than similar stakes in privately held ones.

But the “gain a fortune” part is simply wrong. They have a fortune. The listing isn’t what creates it at all.

3 thoughts on “Oh no they don’t!”

  1. Looking at their growth history, they’ve made an awful lot of big acquisitions, presumably with debt. I hope this doesn’t turn out to be another Thomas Cook.

  2. >Speaking earlier this year, Zuber said: “Education is the only way to get people out of poverty. “Our parents came to the UK in the 1960s with nothing. This is our way of saying ‘thank you’ because the UK has provided us with a fantastic opportunity to build our business.”

    Their story makes it sound like buying petrol stations is the way to prosperity, not education.

  3. Also, if the portfolio is valued at £5B, it would need to generating some reasonably serious returns. Even if it’s 5% margin, there’s £250m in profit p.a. that could provide a handy dividend stream.

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