One of the most recognisable entrepreneurs in the UK and an owner or investor in countless businesses worldwide, it is estimated that Duncan Bannatyne is worth £320m.
Bannatyne, who came to media prominence in his role as a ‘dragon investor’ on the BBC’s Dragon’s Den, came from a low-income family and this, along with his ambition to ‘be something’, drove him to become the successful businessman he is today.
Duncan Bannatyne was born in Clydebank, Scotland on 2 February 1949, and his ambition and drive could be seen from an early age. When he was told by his mother that she could not afford to buy him a bicycle he went to the local newsagents asking for a paper round.
The newsagents agreed on the condition that he collected a list of 100 potential customers. After several days of knocking on doors Bannatyne completed the list and saved enough money to get the bike he had so coveted.
In 1964, the 15-year-old Bannatyne joined the navy as an engineering mechanic. He served in the navy for several years until he received a dishonourable discharge for threatening to throw an officer off a boat jetty, a decision which landed him in a military detention centre for nine months.
It was Dragon's Den that really turned him into a household name, with Bannatyne acquiring a reputation for being the hardest to impress of all the dragons
Ice cream van
When Bannatyne was in his early 20s he moved to Jersey, where his business career began modestly. After some time in the car trade, it was the purchase of an ice cream van, at the cost of £450, which really set him on his way.
After building a fleet of ice cream vans he eventually sold Duncan’s Super Ices for £28,000 and founded a nursing home business called Quality Care Homes. In 1996 he switched industries again, selling the care-home business for £46m.
Bannatyne then went on to establish a chain of health clubs and spas named after himself. In 2006 he acquired 26 health clubs from Hilton hotels making Bannatyne's the largest independent chain of spas and health clubs in the UK.
Rather than seek to cut costs at the height of the financial crisis, in 2008 he opened the £12m Bannatyne Spa Hotel in Hastings and revamped all the gyms.
Over the past 10 years he has expanded his business interests to hotels, bars, property, media and television.
Bannatyne first appeared on TV in 2003 on a BBC Two documentary called Mind of a Millionaire, before going on to present a 23-part series called Mind Your Own Businesses where he helped people take control of their failing businesses and debts.
However, it was Dragon's Den that really turned him into a household name, with Bannatyne acquiring a reputation for being the hardest to impress of all the dragons. That said, he has still invested a total of £1.3m in 21 businesses.
Bannatyne has also written several business-orientated self-help books, including Anyone Can Do It, Wake Up And Change Your Life, How To Be Smart With Money and How To Be Smart With Your Time.
Bannatyne, who his brothers called "pathalogically tight", has poured money into his eponymous charitable trust, which supports 27 charities including Well Child, Birmingham Children’s Hospital’s Red Balloon Appeal, Zoe’s Place baby hospice and Scottish International Relief. Other philanthropic work undertaken by Bannatyne includes projects with UNICEF, Scottish International Relief, Comic Relief and founding a hospice for HIV and aids orphans.
Bannatyne is married to Joanne McCue, the former director of Quality Care Homes, and has six children. In 2006 he was awarded an honorary doctorate of science by Glasgow Caledonian University for his services to business and charity. He was also awarded a doctorate of business administration by the university of Teesside in 2009.
