Knights’ David Beech joint 923rd
The CEO of UK listed law firm Knights has entered the Sunday Times ‘Rich List’ with an estimated wealth of over £130 million.
Former corporate lawyer David Beech was hired as chief exec of the UK outfit in 2011, “determined to turn the Newcastle-under-Lyme business into the UK’s No 1 legal and professional services company outside London”, according to his new entry.
Beech’s sizeable fortune — which places him joint 923rd on the list of the UK’s 1,000 richest people — is the result of Knight’s floatation on the London Stock Exchange in June 2018. The 54-year-old owns a hefty 44.32% stake in the national outfit, which has a stock market valuation of £293.6 million.
Legal Cheek‘s Firms Most List shows a partner at a top (top!) City firm can pull in northwards of £3 million a year — a sizeable sum that still falls well short of Beech’s enormous fortune.
Joining Beech in 923rd place are British-Iranian investment banker Kaveh Alamouti, music mogul Roger Ames, and property owner and former Tory MP Richard Benyon.
The law firm boss is one of a number of new entrants on this year’s list, including Gymshark clothing founder Ben Francis (£138 million) and pop sensation Rihanna (£468 million), on account of her now living in the UK.
Elsewhere, barrister turned legal directory publisher Michael Chambers secured 793rd place with an estimated fortune of £153 million. He sold Chambers and Partners in 2018 to private equity firm Inflexion.