Richard Farleigh
Encyclopedia
Richard Farleigh is an Australian private investor. He is currently a member of the Business Review Weekly
Rich 200 list, a list of the 200 wealthiest Australian individuals.
, Farleigh was one of eleven siblings. His father, a labourer and sheep shearer who moved around Australia with his wife and children, was tritely reported to be a violent alcoholic, although this hardly reflects the complex living situation of the young Smith children. When Farleigh was aged two, he and his siblings were taken into care and sent to foster homes. By the age of five, he was considered "backward" but despite this went on to excel later in life at mathematics and chess, winning a scholarship to read economics at the University of New South Wales
.
in Sydney when 23 as a trader and stayed there for ten years. He was hired to run a hedge fund
in the tax haven of Bermuda
and moved there with his wife and baby son. There, he became friends with David Norwood
, a chess grand master, and three years later, he had earned enough to retire, aged 34, and moved to Monte Carlo
. It was at this point that he spent much time with Norwood investigating research from Oxford University in the UK that had potential commercial applications. IndexIT was the company formed to fund some of these ventures; it was later sold to Beeson Gregory for £20m. He made millions of dollars after investing his own capital in British technology companies. The Rich 200 list estimated his personal wealth at around A$
160,000,000. He is ranked as the 876th on the Sunday Times Rich List 2006 with an estimated net worth of £66million.
1999 saw Farleigh invest £2m in the renovation of the old French Embassy mansion in London's Portman Square, turning it into the private members club Home House. The business was a success and was sold for a decent profit.
In 2005, he published a guide to personal investing entitled Taming the Lion: 100 Secret Strategies for Investing (ISBN 1-897597-62-2). Farleigh plays chess as a hobby, and is an internationally-ranked player who has represented Bermuda and Monaco at the Chess Olympiad
.
for the show's third series. Farleigh said he would be seeking further investments through the show, saying he was looking to "hopefully uncover the next big thing". Feedback for him was generally positive. It was noted that he was the calmest of the dragons, as he was never harsh with his criticism as the other four frequently were, only constructive.
It was announced on 21 May 2007, that Richard Farleigh had been dropped from the series. The Daily Mail suggested he may have been dropped in order to have a new dragon from an ethnic minority. Farleigh said, "It would be disappointing if that was the reason - rather than anything fundamental - if it was because I was the wrong colour. I don't know why this has happened and I am very disappointed and bemused - I wasn't expecting it because all the feedback I got was very positive. I had even moved back to the UK to focus on commitments for the show. I am gutted that I have not been invited back."
James Caan
, a British Pakistani venture capitalist and founder of Hamilton Bradshaw
, replaced Farleigh in series five of Dragons' Den in the UK.
in the 31st Chess Olympiad
in Moscow 1994 and for Monaco
in the 34th Chess Olympiad
in Istanbul 2000.
Business Review Weekly
BRW is an Australian weekly business magazine published by the Fairfax Media group. It regularly compiles lists which rank corporations and individuals according to various criteria, similar to Fortune magazine in the United States.BRW provides news and commentary on the economy, business and...
Rich 200 list, a list of the 200 wealthiest Australian individuals.
Early life
Born under the name "Richard Smith" (after his father, despite his being the second born son) in Kyabram, VictoriaKyabram, Victoria
Kyabram is located in the centre of a rich irrigation district in the Goulburn River Valley, 200 kilometres north of Melbourne, Victoria, Australia. Kyabram, the second largest town in the Shire of Campaspe. is situated between the towns of Echuca and Shepparton and is close to the Murray River...
, Farleigh was one of eleven siblings. His father, a labourer and sheep shearer who moved around Australia with his wife and children, was tritely reported to be a violent alcoholic, although this hardly reflects the complex living situation of the young Smith children. When Farleigh was aged two, he and his siblings were taken into care and sent to foster homes. By the age of five, he was considered "backward" but despite this went on to excel later in life at mathematics and chess, winning a scholarship to read economics at the University of New South Wales
University of New South Wales
The University of New South Wales , is a research-focused university based in Kensington, a suburb in Sydney, New South Wales, Australia...
.
Business ventures
After graduating with honours, he joined Bankers Trust AustraliaBankers Trust
Bankers Trust was an historic American banking organization. The bank merged with Alex. Brown & Sons before being acquired by Deutsche Bank in 1998.-History:A consortium of banks created Bankers Trust to perform trust company services for their clients....
in Sydney when 23 as a trader and stayed there for ten years. He was hired to run a hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
in the tax haven of Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
and moved there with his wife and baby son. There, he became friends with David Norwood
David Norwood
David Robert Norwood is an English chess Grandmaster, chess writer, and businessman who now represents Andorra at Chess.The son of an electrician, Norwood read history at Keble College, Oxford University before joining city investment bank Banker's Trust in 1991. FIDE awarded him the International...
, a chess grand master, and three years later, he had earned enough to retire, aged 34, and moved to Monte Carlo
Monte Carlo
Monte Carlo is an administrative area of the Principality of Monaco....
. It was at this point that he spent much time with Norwood investigating research from Oxford University in the UK that had potential commercial applications. IndexIT was the company formed to fund some of these ventures; it was later sold to Beeson Gregory for £20m. He made millions of dollars after investing his own capital in British technology companies. The Rich 200 list estimated his personal wealth at around A$
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
160,000,000. He is ranked as the 876th on the Sunday Times Rich List 2006 with an estimated net worth of £66million.
1999 saw Farleigh invest £2m in the renovation of the old French Embassy mansion in London's Portman Square, turning it into the private members club Home House. The business was a success and was sold for a decent profit.
In 2005, he published a guide to personal investing entitled Taming the Lion: 100 Secret Strategies for Investing (ISBN 1-897597-62-2). Farleigh plays chess as a hobby, and is an internationally-ranked player who has represented Bermuda and Monaco at the Chess Olympiad
Chess Olympiad
The Chess Olympiad is a biennial chess tournament in which teams from all over the world compete against each other. The event is organised by FIDE, which selects the host nation.-Birth of the Olympiad:The first Olympiad was unofficial...
.
Public spotlight
Farleigh was selected in 2006 to appear as an investor on the British version of the business-related TV programme Dragons' DenDragons' Den (UK)
Dragons' Den is a British television series, hosted by Evan Davis. The format of the show is owned by Sony Pictures and is based on the original Japanese series, which has been sold around the world...
for the show's third series. Farleigh said he would be seeking further investments through the show, saying he was looking to "hopefully uncover the next big thing". Feedback for him was generally positive. It was noted that he was the calmest of the dragons, as he was never harsh with his criticism as the other four frequently were, only constructive.
It was announced on 21 May 2007, that Richard Farleigh had been dropped from the series. The Daily Mail suggested he may have been dropped in order to have a new dragon from an ethnic minority. Farleigh said, "It would be disappointing if that was the reason - rather than anything fundamental - if it was because I was the wrong colour. I don't know why this has happened and I am very disappointed and bemused - I wasn't expecting it because all the feedback I got was very positive. I had even moved back to the UK to focus on commitments for the show. I am gutted that I have not been invited back."
James Caan
James Caan (entrepreneur)
James Caan is a British-Pakistani entrepreneur and television personality. Caan has been building and selling businesses since 1985, including Alexander Mann Group, Humana International, and the private equity firm Hamilton Bradshaw.Caan initially achieved success in the recruitment industry,...
, a British Pakistani venture capitalist and founder of Hamilton Bradshaw
Hamilton Bradshaw
Hamilton Bradshaw is a mid-market private equity firm with headquarters in London, England.The company was founded in 2003, by UK serial entrepreneur and Dragons' Den panelist James Caan. Hamilton Bradshaw's main offices are located in Mayfair, London...
, replaced Farleigh in series five of Dragons' Den in the UK.
Legal mishap
On Friday 5 September 2008, the High Court of London ruled that Oxonica, a company chaired by Farleigh, of which he owns 20%, was in breach of its licence with Neuftec and they had to pay royalties and costs estimated to be nearly three million pounds sterling. The Financial Times carried a story entitled Dragons’ Den chief feels heat in court.Chess Olympiad appearances
Farleigh played for BermudaBermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
in the 31st Chess Olympiad
31st Chess Olympiad
The 31st Chess Olympiad, organized by the Fédération Internationale des Échecs and comprising an open and women's tournament, took place between November 30 and December 17, 1994, in Moscow, Russia.- Chess competition :...
in Moscow 1994 and for Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
in the 34th Chess Olympiad
34th Chess Olympiad
The 34th Chess Olympiad, organized by the Fédération Internationale des Échecs and comprising an open and women's tournament, took place between October 28 and November 12, 2000, in Istanbul, Turkey.- Chess competition :...
in Istanbul 2000.
External links
- Farleigh's personal website
- The Telegraph (2006). Business profile: From swagman to sapphires. Retrieved 2006-04-23.
- The Guardian (2007). Business interview: Australian dragon fired up by success. Retrieved 2007-03-30.
- The Times (2007). Double blow for UK nanotech company.
- The Telegraph (2007). Farleigh's Oxonica in legal fight with supplier.
- The Financial Times (2008). ‘Dragons’ Den’ chief feels heat in court.
- The Guardian (2008). Court rules against firm backed by former Dragons' Den star.
- International Chess Olympiad appearances
- Business Matters (2010). Interview with Richard Farleigh on success & failure in business .