Denis O'Brien
Encyclopedia
Denis O'Brien is an Irish
businessman with international connections. An Arts
graduate of University College Dublin
, O'Brien has received a MBA
in corporate finance from Boston College
in 1982, and was later given an honorary doctorate
by University College Dublin
.
O'Brien has involvement with various communications companies at national and international level. He set up and chaired the Esat Digifone consortium which won a mobile phone licence in the 1990s in what would become controversial circumstances
despite claims to this day that theirs was the best bid. The Moriarty Tribunal
found that in its opinion it was almost beyond doubt that his winning of the contract was due to payments he made to Michael Lowry
, the then communications minister, who unduly influenced the bidding process. The whole conduct of this Tribunal has been strongly criticised for its propensity to accept gossip as fact. It was the winning of this contract that formed the basis of his fortune. He established Digicel, a major telecoms provider in the Caribbean. O'Brien formed Communicorp Group Ltd in 1989, with the company currently owning 42 radio stations in 8 European countries, including Ireland's Newstalk, Today FM
, Dublin's 98 (formerly 98FM
), Spin 1038
and Spin South West.
In addition, O'Brien has founded the international commercial aircraft company Aergo Capital Limited
- registered in Dublin, with offices in Nairobi
, Singapore
, Santiago
and Johannesburg
. He is a leading shareholder in both Sterling Energy and in Sir Anthony O'Reilly's Independent News & Media
(IN&M). He is a resident of Malta, having moved there for tax purposes after previously living in Portugal, also for tax purposes.
, the Norwegian state telecoms operator, with the balance being owned by International Investment and Underwriting (IIU), an investment vehicle owned by Dermot Desmond
.
On 7 November 1997, Esat Telecom Group plc held an initial public offering and was listed on the Irish Stock Exchange
, London Stock Exchange
, and NASDAQ
Stock Markets. In 1999, difficulties arose between O'Brien and Telenor
over how Esat Digifone should be operated. Telenor attempted to remove O'Brien as chairman of Esat Digifone and remove the Esat name from the company. Esat retaliated by threatening to sue Telenor, and offered to buy out the Norwegian company. Eventually, in November 1999, Telenor bid for the entire share capital of Esat Telecom Group plc as a way of resolving the situation. The bid was rejected by the Esat board and so became a hostile takeover attempt. In order to defend against the takeover, British Telecommunications plc (now BT Group plc) made a friendly takeover offer for the company in January 2000, which was backed by the Esat board. Esat became a wholly owned subsidiary of BT and was delisted from the stock market. O'Brien personally netted €317 million from the sale.
After exiting the Irish mobile phone market, O'Brien started to compete for mobile phone licenses in the Caribbean through his company Digicel
. Digicel now has in excess of eleven million mobile phone subscribers in the Caribbean, Central America and Pacific. He set up a new subsidiary Digicel
Group Ltd. and via a bonds issue, acquired the entire holding of Digicel Limited. O'Brien is involved in the Pacific with operations in Samoa, Vanuatu, Fiji, Solomon Islands and Papua New Guinea
As the owner of Haiti
's largest telecom company, Digicel
, O'Brien pledged an immediate €3.5 million of his money to assist desperate Haitians within hours of the 2010 Haiti earthquake
. Two of Digicel's 900 staff members in Haiti died in the earthquake. Digicel is Haiti's largest single investor. Digicel's headquarters was one of the few buildings in the region to survive unharmed. He was appointed goodwill ambassador for Port-au-Prince
by the city's mayor and deputy mayor in recognition of his efforts to rebuild Haiti and attract foreign direct investment in the aftermath of the devastating earthquake on January 12th, and on behalf of the Clinton Global Initiative. He is Chairman of the Haiti Action Network, which coordinates the activities of approximately 80 support organisations in Haiti. Most recently, Denis O'Brien reconstructed the iconic Iron Market in Haiti's capital Port-Au-Prince, which was the first public building in the city to be rebuilt since the earthquake and has become a symbol of the city's recovery.
's second and final report found that Michael Lowry
, the then energy and communications minister in Ireland, assisted Denis O'Brien in his bid to secure a mobile phone contract for Esat Digifone, a key foundation of Mr O'Brien's personal wealth. The tribunal found that this happened after Lowry received a $50,000 payment from O'Brien via a circuitous route involving a complex arrangement of third parties and offshore accounts. It said that it was “beyond doubt” that Mr Lowry gave “substantive information to Denis O'Brien, of significant value and assistance to him in securing the [mobile] licence” during at least two meetings between the two.
Denis O'Brien has rejected the findings set out in the Moriarty Tribunal report calling it "fundamentally flawed" as it is based on the opinions and theories of Mr Justice Moriarty and his legal team. Mr O’Brien said Mr Justice Moriarty had admitted to making “two not insignificant errors” and that these had been used to substantiate false theories. “I believe it is unprecedented in the history of this country that a High Court judge would make such fundamental errors which went to the heart of the credibility and integrity of a tribunal process,” Mr O’Brien said. Mr O’Brien said it was “incumbent on the judiciary to investigate the conduct of Mr Justice Moriarty and the tribunal legal team for the manner in which they conducted themselves”.
On 15 October 2011, Today FM confirmed Sam Smyth's Sunday radio show was being dropped. He had been presenting it for 14 years. Smyth had previously offended his bosses by commenting in a newspaper and on television about Today FM owner's Denis O'Brien's involvement in the Moriarty Tribunal. Smyth said on air the next morning that he had been told not to talk about the end of his show and stopped one of his guests from talking about it too "before someone comes downstairs and pulls a wire we better move onto something else." The National Union of Journalists (NUJ) said it was concerned at the development. The Irish Independent, of which Denis O'Brien is a leading shareholder, reported that Anton Savage was being lined up to replace Sam Smyth.
The company now owns 42 radio stations in 8 countries across Europe, including Ireland: Today FM, Dublin's 98 (Formerly 98FM), Newstalk, Spin 1038 and Spin South West.
O'Brien was the highest bidder for the Irish operations of Emap
, which added Today FM, FM104
and Highland Radio
to their control, but due to a competition authority decision, Communicorp was required to sell-on FM104 and Highland Radio.
, Jet Airways
, South African Airways
, KLM and DHL
. In July 2008, Aergo acquired the Safair
aircraft-leasing division of Imperial Holdings for €110 Million. Aergo will take over the division's 33 planes and will lease a further nine aircraft from the parent company.
's Independent News & Media
(IN&M). As of 25 March 2008, he holds 175,053,996 ordinary shares of €0.30, which represents 22.15% of the total number of voting shares of the company. This compares to O'Reilly's family stake of 28.2%. At the beginning of June 2007, O'Reilly tabled a resolution to strengthen rules on the disclosure of beneficial interests. This was regarded as a defensive measure that would empower IN&M to monitor any additional accumulation of shares in the company. The resolution passed and empowers IN&M to withhold dividends from investors who do not comply with a request for information on the ownership of a holding of shares.
O'Brien, speaking on RTÉ Radio
, described the resolution as a "retrograde" measure, saying that the resolution was designed to protect the interests of O'Reilly's family against a hostile bidder.
on the occasion when the games were held in Ireland, and on the U.S. Board of Concern Worldwide
.
In September 2005, O'Brien was named Deputy Governor of the Bank of Ireland
. Simultaneously, he moved his residence from Portugal to Malta, for tax avoidance reasons. He resigned from the position of Deputy Governor Bank of Ireland, and also as a member of the Bank's board or court, on 12 September 2006. The Bank of Ireland issued a statement describing his resignation as due to "his growing international business interests together with the demands of an extensive travel schedule, meant that he could no longer devote the time required to the ever increasing workload of the court." O'Brien has also resigned from the Norkom Group and the UCD Smurfit School of Business
. His spokesman said that the resignations were unconnected with the work of the Moriarty Tribunal.
O'Brien is a member of the Bilderberg group and Trilateral Commision.
On 13 February 2008, the chief executive of the Football Association of Ireland
, John Delaney
, confirmed that O'Brien had agreed to part fund the wages of the Irish football manager Giovanni Trapattoni
.
In 2011, he provided money for the campaign of Mary Davis ahead of the Irish presidential election.
on the New York Stock Exchange
and he has taken up residence in Malta. Malta charges no tax on worldwide assets or income brought in by permanent residents. Residence, for tax purposes, means renting or buying a property with a minimum value and visiting Malta at least once within one year of becoming a resident.
Irish people
The Irish people are an ethnic group who originate in Ireland, an island in northwestern Europe. Ireland has been populated for around 9,000 years , with the Irish people's earliest ancestors recorded having legends of being descended from groups such as the Nemedians, Fomorians, Fir Bolg, Tuatha...
businessman with international connections. An Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
graduate of University College Dublin
University College Dublin
University College Dublin ) - formally known as University College Dublin - National University of Ireland, Dublin is the Republic of Ireland's largest, and Ireland's second largest, university, with over 1,300 faculty and 17,000 students...
, O'Brien has received a MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
in corporate finance from Boston College
Boston College
Boston College is a private Jesuit research university located in the village of Chestnut Hill, Massachusetts, USA. The main campus is bisected by the border between the cities of Boston and Newton. It has 9,200 full-time undergraduates and 4,000 graduate students. Its name reflects its early...
in 1982, and was later given an honorary doctorate
Honorary degree
An honorary degree or a degree honoris causa is an academic degree for which a university has waived the usual requirements, such as matriculation, residence, study, and the passing of examinations...
by University College Dublin
University College Dublin
University College Dublin ) - formally known as University College Dublin - National University of Ireland, Dublin is the Republic of Ireland's largest, and Ireland's second largest, university, with over 1,300 faculty and 17,000 students...
.
O'Brien has involvement with various communications companies at national and international level. He set up and chaired the Esat Digifone consortium which won a mobile phone licence in the 1990s in what would become controversial circumstances
Esat Digifone licence controversy
It is alleged that as a result benefits extended to Michael Lowry by Denis O'Brien that Esat Digifone was given an unfair advantage in the procurement of a mobile phone operator's licence....
despite claims to this day that theirs was the best bid. The Moriarty Tribunal
Moriarty Tribunal
The Tribunal of Inquiry into certain Payments to Politicians and Related Matters was an Irish Public inquiry established in 1997 into the financial affairs of politicians Charles Haughey and Michael Lowry. It has revealed significant tax evasion by these and other politicians and leading...
found that in its opinion it was almost beyond doubt that his winning of the contract was due to payments he made to Michael Lowry
Michael Lowry
Michael Lowry is an Irish politician. He is currently a Teachta Dála for the Tipperary North constituency and continues to enjoy high popularity in his constituency despite being the subject of a criminal investigation resulting from various scandals while in office.-Local government and...
, the then communications minister, who unduly influenced the bidding process. The whole conduct of this Tribunal has been strongly criticised for its propensity to accept gossip as fact. It was the winning of this contract that formed the basis of his fortune. He established Digicel, a major telecoms provider in the Caribbean. O'Brien formed Communicorp Group Ltd in 1989, with the company currently owning 42 radio stations in 8 European countries, including Ireland's Newstalk, Today FM
Today FM
Radio Ireland Ltd, trading as 100-102 Today FM is an Irish commercial FM radio station which is available nationally. The station, which commenced broadcasting on Saint Patrick's Day in 1997, can be received nationally and carries a mix of music and talk...
, Dublin's 98 (formerly 98FM
98FM
98FM may refer to these radio stations using 98MHz:* 98FM * WKCQ* WDZH, also known as "98-7 Amp Radio"....
), Spin 1038
Spin 1038
Spin 1038 is an Independent Local Radio station in Dublin, Ireland. It is owned by Denis O'Brien's Communicorp group and broadcasts under a sound broadcasting contract with the Broadcasting Commission of Ireland. Despite their name, they do not broadcast on the medium wave band , but on 103.8 FM...
and Spin South West.
In addition, O'Brien has founded the international commercial aircraft company Aergo Capital Limited
Aergo Capital
Aergo Capital Limited is an aircraft operating, maintenance and leasing company based in Dublin, Ireland. The company was founded in 1999 by Denis O'Brien. In addition the the Dublin head office, the company has offices in Chicago, Johannesburg, Nairobi and Santiago.Aergo is ranked among the 20...
- registered in Dublin, with offices in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Santiago
Santiago
Santiago is the capital city of Chile. Santiago may also refer to:*Santiago *Santiago , a Spanish given name*Santiago!, a shortened form of the Reconquista battle cry "Santiago y cierra, España"...
and Johannesburg
Johannesburg
Johannesburg also known as Jozi, Jo'burg or Egoli, is the largest city in South Africa, by population. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa...
. He is a leading shareholder in both Sterling Energy and in Sir Anthony O'Reilly's Independent News & Media
Independent News & Media
Independent News & Media plc , is a media organisation based in Dublin, Ireland, with interests in 22 countries on 4 continents worldwide. The company owns over 200 print titles, more than 130 radio stations, over 100 commercial websites and many billboard locations, and is a leading press player...
(IN&M). He is a resident of Malta, having moved there for tax purposes after previously living in Portugal, also for tax purposes.
Mobile phone entrepreneur
In 1995, O'Brien set up and chaired the Esat Digifone consortium which submitted a bid for the second Irish GSM mobile phone license. Esat Digifone's bid defeated five other applicants, some of whom included major international operators, in controversial circumstances which became the subject of investigation by the Moriarty Tribunal.. The Esat Digifone consortium was 40% owned by O'Brien's interests, 40% owned by TelenorTelenor
Telenor Group is the incumbent telecommunications company in Norway, with headquarters located at Fornebu, close to Oslo. Today, Telenor Group is mostly an international wireless carrier with operations in Scandinavia, Eastern Europe and Asia, working predominantly under the Telenor brand...
, the Norwegian state telecoms operator, with the balance being owned by International Investment and Underwriting (IIU), an investment vehicle owned by Dermot Desmond
Dermot Desmond
Dermot Desmond is an Irish businessman and financier. He is estimated to be worth €1.45billion and is ranked by the Sunday Independent as the sixth-richest person in Ireland.-Background and education:...
.
On 7 November 1997, Esat Telecom Group plc held an initial public offering and was listed on the Irish Stock Exchange
Irish Stock Exchange
-History:The Irish Stock Exchange is Ireland's only stock exchange and has been in existence since 1793. It is an Irish private company limited by guarantee. It was first recognised by legislation in 1799 when the Irish Parliament passed the Stock Exchange Act...
, London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
, and NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
Stock Markets. In 1999, difficulties arose between O'Brien and Telenor
Telenor
Telenor Group is the incumbent telecommunications company in Norway, with headquarters located at Fornebu, close to Oslo. Today, Telenor Group is mostly an international wireless carrier with operations in Scandinavia, Eastern Europe and Asia, working predominantly under the Telenor brand...
over how Esat Digifone should be operated. Telenor attempted to remove O'Brien as chairman of Esat Digifone and remove the Esat name from the company. Esat retaliated by threatening to sue Telenor, and offered to buy out the Norwegian company. Eventually, in November 1999, Telenor bid for the entire share capital of Esat Telecom Group plc as a way of resolving the situation. The bid was rejected by the Esat board and so became a hostile takeover attempt. In order to defend against the takeover, British Telecommunications plc (now BT Group plc) made a friendly takeover offer for the company in January 2000, which was backed by the Esat board. Esat became a wholly owned subsidiary of BT and was delisted from the stock market. O'Brien personally netted €317 million from the sale.
After exiting the Irish mobile phone market, O'Brien started to compete for mobile phone licenses in the Caribbean through his company Digicel
Digicel
Digicel is a mobile phone network provider covering parts of Oceania, Central America, and the Caribbean regions. The company is owned by Irishman Denis O'Brien, is incorporated in Bermuda, and based in Jamaica. It provides mobile services in 26 countries and territories throughout the Caribbean...
. Digicel now has in excess of eleven million mobile phone subscribers in the Caribbean, Central America and Pacific. He set up a new subsidiary Digicel
Digicel
Digicel is a mobile phone network provider covering parts of Oceania, Central America, and the Caribbean regions. The company is owned by Irishman Denis O'Brien, is incorporated in Bermuda, and based in Jamaica. It provides mobile services in 26 countries and territories throughout the Caribbean...
Group Ltd. and via a bonds issue, acquired the entire holding of Digicel Limited. O'Brien is involved in the Pacific with operations in Samoa, Vanuatu, Fiji, Solomon Islands and Papua New Guinea
As the owner of Haiti
Haiti
Haiti , officially the Republic of Haiti , is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti was the indigenous Taíno or Amerindian name for the island...
's largest telecom company, Digicel
Digicel
Digicel is a mobile phone network provider covering parts of Oceania, Central America, and the Caribbean regions. The company is owned by Irishman Denis O'Brien, is incorporated in Bermuda, and based in Jamaica. It provides mobile services in 26 countries and territories throughout the Caribbean...
, O'Brien pledged an immediate €3.5 million of his money to assist desperate Haitians within hours of the 2010 Haiti earthquake
2010 Haiti earthquake
The 2010 Haiti earthquake was a catastrophic magnitude 7.0 Mw earthquake, with an epicentre near the town of Léogâne, approximately west of Port-au-Prince, Haiti's capital. The earthquake occurred at 16:53 local time on Tuesday, 12 January 2010.By 24 January, at least 52 aftershocks...
. Two of Digicel's 900 staff members in Haiti died in the earthquake. Digicel is Haiti's largest single investor. Digicel's headquarters was one of the few buildings in the region to survive unharmed. He was appointed goodwill ambassador for Port-au-Prince
Port-au-Prince
Port-au-Prince is the capital and largest city of the Caribbean nation of Haiti. The city's population was 704,776 as of the 2003 census, and was officially estimated to have reached 897,859 in 2009....
by the city's mayor and deputy mayor in recognition of his efforts to rebuild Haiti and attract foreign direct investment in the aftermath of the devastating earthquake on January 12th, and on behalf of the Clinton Global Initiative. He is Chairman of the Haiti Action Network, which coordinates the activities of approximately 80 support organisations in Haiti. Most recently, Denis O'Brien reconstructed the iconic Iron Market in Haiti's capital Port-Au-Prince, which was the first public building in the city to be rebuilt since the earthquake and has become a symbol of the city's recovery.
Involvement in the Moriarty Tribunal
The Moriarty TribunalMoriarty Tribunal
The Tribunal of Inquiry into certain Payments to Politicians and Related Matters was an Irish Public inquiry established in 1997 into the financial affairs of politicians Charles Haughey and Michael Lowry. It has revealed significant tax evasion by these and other politicians and leading...
's second and final report found that Michael Lowry
Michael Lowry
Michael Lowry is an Irish politician. He is currently a Teachta Dála for the Tipperary North constituency and continues to enjoy high popularity in his constituency despite being the subject of a criminal investigation resulting from various scandals while in office.-Local government and...
, the then energy and communications minister in Ireland, assisted Denis O'Brien in his bid to secure a mobile phone contract for Esat Digifone, a key foundation of Mr O'Brien's personal wealth. The tribunal found that this happened after Lowry received a $50,000 payment from O'Brien via a circuitous route involving a complex arrangement of third parties and offshore accounts. It said that it was “beyond doubt” that Mr Lowry gave “substantive information to Denis O'Brien, of significant value and assistance to him in securing the [mobile] licence” during at least two meetings between the two.
Denis O'Brien has rejected the findings set out in the Moriarty Tribunal report calling it "fundamentally flawed" as it is based on the opinions and theories of Mr Justice Moriarty and his legal team. Mr O’Brien said Mr Justice Moriarty had admitted to making “two not insignificant errors” and that these had been used to substantiate false theories. “I believe it is unprecedented in the history of this country that a High Court judge would make such fundamental errors which went to the heart of the credibility and integrity of a tribunal process,” Mr O’Brien said. Mr O’Brien said it was “incumbent on the judiciary to investigate the conduct of Mr Justice Moriarty and the tribunal legal team for the manner in which they conducted themselves”.
On 15 October 2011, Today FM confirmed Sam Smyth's Sunday radio show was being dropped. He had been presenting it for 14 years. Smyth had previously offended his bosses by commenting in a newspaper and on television about Today FM owner's Denis O'Brien's involvement in the Moriarty Tribunal. Smyth said on air the next morning that he had been told not to talk about the end of his show and stopped one of his guests from talking about it too "before someone comes downstairs and pulls a wire we better move onto something else." The National Union of Journalists (NUJ) said it was concerned at the development. The Irish Independent, of which Denis O'Brien is a leading shareholder, reported that Anton Savage was being lined up to replace Sam Smyth.
Radio entrepreneur
Communicorp Group Ltd was formed by O'Brien in 1989. The Group's radio operations launched in Ireland in the same year and followed with stations in the Czech Republic in 1992. Based in Dublin, Ireland, Communicorp is a major player in the Irish media market.The company now owns 42 radio stations in 8 countries across Europe, including Ireland: Today FM, Dublin's 98 (Formerly 98FM), Newstalk, Spin 1038 and Spin South West.
O'Brien was the highest bidder for the Irish operations of Emap
EMAP
Emap Limited is a British media company, specialising in the production of business-to-business magazines, and the organisation of business events and conferences...
, which added Today FM, FM104
FM104
FM104 is an Independent Local Radio station broadcast across Dublin, Ireland, on the frequency 104.4 MHz. It is operated by Capital Radio Productions Limited , and is a subsidiary of UTV Radio. The station broadcasts under a sound broadcasting contract from the Broadcasting Commission of Ireland...
and Highland Radio
Highland Radio
Highland Radio is an Irish radio station operating under a licence from the Broadcasting Commission of Ireland, and is the licenced local radio service for the County Donegal franchise. It began broadcasting on March 15, 1990, and is currently franchised until 2014. Highland's headquarters are...
to their control, but due to a competition authority decision, Communicorp was required to sell-on FM104 and Highland Radio.
Aircraft leasing
In 1999, Denis O'Brien founded Aergo Capital Limited - registered in Dublin, with offices in Nairobi, Singapore, Santiago and Johannesburg. It owns and operates a fleet of 103 commercial aircraft. The company is valued at $250 Million USD and has debts in the region of $166 Million USD. O'Brien controls about 83% of Aergo and, along with his father, sits on the company's 6 strong board. Aergo Capital's clients include AlitaliaAlitalia
Alitalia - Linee Aeree Italiane S.p.A. , in its later stages known as Alitalia - Linee Aeree Italiane S.p.A. in Extraordinary Administration, was the former Italian flag carrier...
, Jet Airways
Jet Airways
Jet Airways is a major Indian airline based in Mumbai, Maharashtra. It is India's largest airline and the market leader in the domestic sector. It operates over 400 flights daily to 76 destinations worldwide. Its main hub is Chhatrapati Shivaji International Airport, with secondary hubs at Delhi,...
, South African Airways
South African Airways
South African Airways is the national flag carrier and largest airline of South Africa, with headquarters in Airways Park on the grounds of OR Tambo International Airport in Kempton Park, Ekurhuleni, Gauteng. The airline flies to 36 destinations worldwide from its hub at OR Tambo International...
, KLM and DHL
DHL
DHL Express is a division of the German logistics company Deutsche Post providing international express mail services. DHL is a world market leader in sea and air mail....
. In July 2008, Aergo acquired the Safair
Safair
Safair is an airline based in Kempton Park, Ekurhuleni, Gauteng, South Africa. Operator of one of the world's largest fleets of civil Lockheed L-100 Hercules cargo aircraft, it also conducts aircraft chartering, leasing and sales, contract operations and leasing services, flightcrew leasing and...
aircraft-leasing division of Imperial Holdings for €110 Million. Aergo will take over the division's 33 planes and will lease a further nine aircraft from the parent company.
Sterling Energy
Denis O'Brien is a shareholder in AIM-listed Sterling Energy. The company has production in the United States and a wide portfolio of exploration interests, mostly in West Africa.Media shareholding
In January 2006, O'Brien took a stake in Tony O'ReillyTony O'Reilly
Sir Anthony Joseph Francis O'Reilly is an Irish businessman and former international rugby union player. He is known for his involvement the Independent News & Media Group, which he led from 1973 to 2009, and as former CEO and Chairman of the H.J. Heinz Company. He was the leading shareholder of...
's Independent News & Media
Independent News & Media
Independent News & Media plc , is a media organisation based in Dublin, Ireland, with interests in 22 countries on 4 continents worldwide. The company owns over 200 print titles, more than 130 radio stations, over 100 commercial websites and many billboard locations, and is a leading press player...
(IN&M). As of 25 March 2008, he holds 175,053,996 ordinary shares of €0.30, which represents 22.15% of the total number of voting shares of the company. This compares to O'Reilly's family stake of 28.2%. At the beginning of June 2007, O'Reilly tabled a resolution to strengthen rules on the disclosure of beneficial interests. This was regarded as a defensive measure that would empower IN&M to monitor any additional accumulation of shares in the company. The resolution passed and empowers IN&M to withhold dividends from investors who do not comply with a request for information on the ownership of a holding of shares.
O'Brien, speaking on RTÉ Radio
RTÉ Radio
RTÉ Radio is a department of Irish national broadcaster Raidió Teilifís Éireann. RTÉ Radio broadcasts four analogue channels and five digital channels....
, described the resolution as a "retrograde" measure, saying that the resolution was designed to protect the interests of O'Reilly's family against a hostile bidder.
Other interests
O'Brien was Chairman of the 2003 Special Olympics World Summer Games2003 Special Olympics World Summer Games
The 2003 Special Olympics World Summer Games were hosted in Ireland, with participants staying in various host towns around the island in the lead up to the games before moving to Dublin for the events. Events were held from 21 June-29 June 2003 at many venues including Morton Stadium, the Royal...
on the occasion when the games were held in Ireland, and on the U.S. Board of Concern Worldwide
Concern Worldwide
Concern Worldwide is Ireland's largest aid and humanitarian agency. Since its foundation over 40 years ago it has worked in 50 countries and currently employs 3,200 staff in 25 countries around the world. Concern works to help those living in the world's poorest countries to achieve real and...
.
In September 2005, O'Brien was named Deputy Governor of the Bank of Ireland
Bank of Ireland
The Bank of Ireland is a commercial bank operation in Ireland, which is one of the 'Big Four' in both parts of the island.Historically the premier banking organisation in Ireland, the Bank occupies a unique position in Irish banking history...
. Simultaneously, he moved his residence from Portugal to Malta, for tax avoidance reasons. He resigned from the position of Deputy Governor Bank of Ireland, and also as a member of the Bank's board or court, on 12 September 2006. The Bank of Ireland issued a statement describing his resignation as due to "his growing international business interests together with the demands of an extensive travel schedule, meant that he could no longer devote the time required to the ever increasing workload of the court." O'Brien has also resigned from the Norkom Group and the UCD Smurfit School of Business
Michael Smurfit Graduate School of Business
The UCD Michael Smurfit Graduate Business School is the business school of University College Dublin, located in Blackrock in Dublin, Republic of Ireland....
. His spokesman said that the resignations were unconnected with the work of the Moriarty Tribunal.
O'Brien is a member of the Bilderberg group and Trilateral Commision.
On 13 February 2008, the chief executive of the Football Association of Ireland
Football Association of Ireland
The Football Association of Ireland is the governing body for the sport of association football in the Republic of Ireland. It should not to be confused with the Irish Football Association , which is the organising body for the sport in Northern Ireland.For the full history, statistics and records...
, John Delaney
John Delaney (football administrator)
John Delaney is the current chief executive of the Football Association of Ireland .His father Joe was previously FAI treasurer. Delaney became acting chief executive of the FAI in December 2004 and took up the role full-time in March 2005. In November 2006, his contract was extended to 2012...
, confirmed that O'Brien had agreed to part fund the wages of the Irish football manager Giovanni Trapattoni
Giovanni Trapattoni
Giovanni Trapattoni , sometimes known as "Trap" or "Il Trap", is an Italian football coach and former player, considered the most successful club coach in the history of Serie A. As a player he was part of Italy's squad at the 1962 FIFA World Cup....
.
In 2011, he provided money for the campaign of Mary Davis ahead of the Irish presidential election.
Personal wealth
According to the Forbes Magazine (March 2009), O'Brien has made himself a fortune of $2.2 billion.Move to Malta
O'Brien had considered the flotation of DigicelDigicel
Digicel is a mobile phone network provider covering parts of Oceania, Central America, and the Caribbean regions. The company is owned by Irishman Denis O'Brien, is incorporated in Bermuda, and based in Jamaica. It provides mobile services in 26 countries and territories throughout the Caribbean...
on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
and he has taken up residence in Malta. Malta charges no tax on worldwide assets or income brought in by permanent residents. Residence, for tax purposes, means renting or buying a property with a minimum value and visiting Malta at least once within one year of becoming a resident.
External links
- Profile of Denis O'Brien at Digicel web site
- "Don't Worry, Be Happy" Article in Forbes - March 2007