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Solicitor chief exec secures spot on ‘Rich List’ with £130 million fortune

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Knights’ David Beech joint 923rd

David Beech

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.

The 2020 Legal Cheek Firms Most List

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.

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22 Comments

Anon

Yet they still made employees redundant almost immediately..

Bavid Deech, MBE

dats how you create wealth brah. U mirin my millionz lmao u punk

Anon

I was one of them….

Bavid Deech, MBE

Sucks to be u lmaooooo im so phat wealth it good

Showround @ Bakers

Listed law firms are basically glorified highstreet firms

DHiggz

I’m so poor. Need to up the targets.

PAYE gimp

“Gymshark clothing founder Ben Francis (£138 million)”

From thicc gym bro to multimillionaire, unbelievable achievement. Stark reminder to all the “top US dolla NQ” wageslave cucks trolling LC that this is how you actually build wealth.

Joe

Ben lives so modestly in Birmingham as well. Such a humble guy

Harry

Not everyone wants to be an entrepreneur… some people just want a good 9-5 that pays well. Which is why law is an attractive profession

Ed

In all honestly, Bens success was down to luck that played out well for him by venturing into the perfect field at the time. Social media was exploding and brand deals and influencers were relatively new especially gym and sports influencers… he latched into the market with sportswear but not via traditional sports clothing stores such as JD, Sports Direct but online which was marketed on Instagram.

Point is the success was mostly down to luck by accidentally tapping into a gap in the market that he didn’t even realise at the time

anon

“Bens success was down to luck”

U mad brah?

Gammonkrieg

“In all honestly”

Say no more fam, we’ve got a genius in attendance.

Truth Serum

You do not make £100 million by accident or due to luck. He may not be an academic genius, but he clearly has a knack for spotting and pursuing a business opportunity and the determination to make it work.

James

If you look at other business owning influencers like Grace Beverly who is also making millions in her online businesses – she discussed it on her YouTube channel and admitted that the success of her BnD business was a surprise to her because usually with these online businesses it’s a rookie entrepreneur testing out a new venture which lands success. I’m not agreeing with that Ed guy, of course Ben and Grace and other young entrepreneurs of Successful Online retail businesses should be given credit… but they happened to tap into the perfect online market at the perfect time … some call it luck … others call it strategic positioning.

Frank

Not everyone wants to or can be an entrepreneur – some people just want a good 9-5 and a career in law offers that

PAYE gimp

No it doesn’t actually. Working as a lawyer in the City is never a 9-5 gig, and in the limited instances that it is it offers no way near the lush riches most LC commenters dream of attaining at their “top dollah US Cravath scale Kirkland mega top” firm.

It’s a nasty paradigm: work your nuts off at a US firm, get axed at 6PQE+ since you get too expensive to sweat as an asset, and the whole time still you’re a poor wageslave, taxed to your eyeballs by HMRC.

HTH

Future senior associate

partners earl more this so…..

U mot mate?

Spit it out and try again

Get a grip

Top equity partners earn maybe around 1 million£ a year. They would have to be partner for over 100 years to make the same amount

CMS Trainee

Maybe at your firm – the partners at mine are eating gucci

hmm

Top equity partners at MC and US firms make considerably more than 1m a year.

roflcobra

Yeah, the very few gimps at the top of the ladder.

Meanwhile a successful business owner easily earns 100 times that in a financial year. It sucks to suck.

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