Anthony Bamford

Last updated

The Right Honourable
The Lord Bamford
DL HonFREng
Chairman of J.C. Bamford Excavators
Incumbent
Assumed office
1975
Education Ampleforth College
Alma mater University of Grenoble
OccupationBusinessman

Anthony Paul Bamford, Baron Bamford (born 23 October 1945), is a British billionaire businessman who is the chairman of J.C. Bamford Excavators Limited (JCB). He succeeded his father, Joseph Cyril Bamford, as chairman and managing director of the company in 1975, at the age of 30. He was knighted in 1990. [3] Bamford has appeared in the Sunday Times Rich List , [4] and in 2021 his net worth was estimated at US$9.48 billion. [5] Bamford is a car collector whose collection includes two examples of the rare Ferrari 250 GTO, valued upwards of $70 million each.

Contents

Early life and education

Bamford was born on 23 October 1945 to Joseph Bamford and Marjorie Bamford (née Griffin). [6] He educated at Ampleforth College, then an all-boys Roman Catholic public school (i.e. independent boarding school). [6] He then studied at the University of Grenoble. [7]

Business career

In 1974, Bamford sued the then MP Jeffrey Archer for bankruptcy after Archer failed to repay a £172,000 loan. Archer had lost the money in a fraudulent share scam. Archer later repaid the money from his earnings as a novelist and Bamford subsequently withdrew the bankruptcy notice. [8]

In 2000, JCB was fined £22 million by the European Commission for antitrust breaches. Bamford said the decision was "disappointing and wrong". [9] [10] A six-year legal battle ensued, which resulted in the European Court of Justice upholding the penalty. [11]

Outside of business, Bamford is a well-known collector of early vintage Ferraris, [12] and is the only individual to own two Ferrari 250 GTOs. [13] He was once the owner of a 1954 Mercedes-Benz W196 Grand Prix car raced by the five-time world champion Juan Manuel Fangio of Argentina, [14] and in August 2006, he expressed an interest in purchasing Jaguar Cars [15] but backed out when he was told the sale would also involve Land Rover, which he did not wish to buy.

A few months before Bamford joined the House of Lords, he shut down a company he had owned that was registered in the British Virgin Islands, a tax haven according to the Panama Papers. The company was called Casper Ltd. and was formed in 1994. Bamford was the sole shareholder. A spokesman for Bamford told The Guardian in 2016 that Casper Ltd. never owned any assets, had a bank account or engaged in any activity during its entire existence. [16]

In 2014 Bamford was elected an Honorary Fellow of the Royal Academy of Engineering. [17]

Politics

Bamford is a major donor to the UK Conservative Party, with JCB and related Bamford entities giving the party £8.1m in cash or kind between 2007 and 2017. [18]

He donated £1 million before the 2010 General Election, and Prime Minister David Cameron recommended him for a peerage that same year, however Bamford withdrew his name from consideration days before the members were announced. [19] Between 2001 and 2010, JCB Research, a reportedly "obscure" [20] and little known company that was incorporated by Bamford in 1961, [21] donated over £4.5 million to Conservative politicians, although it was only reportedly worth £27,000 at the end of 2010. [20]

In 2012, Bamford was later outspoken on the need for the UK Government to champion manufacturing in the UK and commissioned a report in 2012 on the subject which was sent directly to David Cameron. [22]

In June 2016, Bamford wrote a letter in support of voting to leave the European Union to his employees. [23] In October 2016, he led his company to leave the CBI over the organisation's anti-Brexit stance. [24] JCB also donated £100,000 to Vote Leave, the official pro-Brexit group. [24] In May 2021, Bamford rejected an invitation to rejoin the CBI, after previously having called it a "waste of time" that "didn't represent my business or private companies". [25] [26]

During the 2019 general election campaign, Bamford donated £3,935,984 to the Conservative Party. [27]

In 2023 New Statesman named Bamford the 33rd most powerful right-wing political figure in the UK, writing that he "collects [both] cars and politicians". [28]

House of Lords

In August 2013, it was announced that Bamford was to be elevated to the House of Lords. [29] On 3 October 2013, he was made Baron Bamfordof Daylesford in the County of Gloucestershire and of Wootton in the County of Staffordshire. [30] On 10 June 2014, he made his maiden speech in the Lords during a debate on the Queen's Speech. [31] He spoke a further four times: once on manufacturing, once on Brexit, and twice on green hydrogen. [32]

Lord Bamford retired from the House of Lords in March 2024. [33] [34]

Personal life

Bamford owns mansions in several countries; in England, they include Daylesford House and Wootton Lodge. [35] Although he was linked to offshore tax havens in the Panama Papers through sole ownership of Casper Ltd., his spokesman said the company was inactive for its entire existence before being dissolved in 2012. [36]

Bamford is married to Carole Whitt and they have 3 children, Joseph "Jo" Cyril Edward, George, and Alice. [37] Jo Bamford is also a businessman who founded a green hydrogen investment fund [38] after working at the family company. [39] In 2019 Jo purchased Northern Irish company Wrightbus, which manufactures buses, including London's double-deckers. [40] [41]

Bamford is close to King Charles III as well as former prime ministers Tony Blair, David Cameron and Boris Johnson. [42] He provided Daylesford House for Johnson's wedding party in July 2022, [43] along with £23,853 towards costs. [44]

With his wife, Bamford was invited to ride in the King's procession at Royal Ascot 2023. [45]

Tax investigation

In 2023, HM Revenue and Customs (HMRC) launched a probe into "alleged aggressive tax avoidance measures" by Bamford and his brother Mark. The inquiry concerns shares held offshore in Bermudan family trusts. [46]

Car collection

Bamford is a prolific car collector with an interest in rare vintage Ferraris. His car collection is valued in excess of £260 million[ citation needed ] and includes: [47]

Arms

Coat of arms of Anthony Bamford
Coronet of a British Baron.svg
Armes des Bamford de Uttoxeter.svg
Escutcheon
Gules a sword erect Proper pommel and hilt Or surrounded by a fess wavy Erminois in chief two cross crosslets fitchy Or.
Supporters
On either side a Dark Bay Horse with black point colouration Proper unguled Argent that to the dexter resting the interior hind hoof on a Stafford knot and that to the sinister resting the interior hind hoof on a horseshoe both Or.
Motto
Dum Rectus Securus [48]

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References

  1. ↑ "JCB celebrates its birthday in style | Leek People". Archived from the original on 3 April 2012. Retrieved 24 October 2011.
  2. ↑ Strachan, Ian (26 January 2017). "Rich List 2017: No.2 - Lord Bamford and family". birminghampost.
  3. ↑ "No. 52543". The London Gazette . 28 May 1991. p. 8207.
  4. ↑ Times, The Sunday. "Rich List 2020: profiles 21-50, featuring Salma Hayek and Sir Richard Branson". The Times . ISSN   0140-0460 . Retrieved 28 May 2020.
  5. ↑ "Bloomberg Billionaires Index: Anthony Bamford". Bloomberg . Retrieved 28 May 2021.
  6. 1 2 "Bamford, Baron, (Anthony Paul Bamford) (born 23 Oct. 1945)". Who's Who 2020 . Oxford University Press. 1 December 2019. Retrieved 27 August 2024.
  7. ↑ "Anthony Paul Bamford BAMFORD – BIOGRAPHY". Debrett's People of Today . Debrett's. Archived from the original on 7 July 2014. Retrieved 4 July 2014.
  8. ↑ Davies, Caroline (20 July 2001). "He lied his way to the top". The Daily Telegraph. London. Retrieved 6 September 2014.
  9. ↑ "JCB hit by £22m competition fine". The Guardian. 15 June 2016.
  10. ↑ "Commission fines JCB for unlawful distribution agreements and practices". European Commission Press Release Database. 21 December 2000.
  11. ↑ "End of the line for JCB's six-year fight against £21m EU fine". Business Live. 21 September 2006. Retrieved 30 December 2020.
  12. ↑ "New Faces, New Tastes". www.ferraris-online.com. 4 June 2006. Retrieved 21 August 2018.
  13. ↑ Okulski, Travis (9 January 2013). "Here Is A List of All The People Who Own Ferrari 250 GTOs". Jalopnik. Retrieved 12 March 2013.
  14. ↑ Levine, Leo (5 July 2013). "A Singular Mercedes Aims for Another Record". The New York Times.
  15. ↑ "JCB's Sir Anthony Bamford eyes Jaguar". Contract Journal. 24 August 2006. Archived from the original on 31 May 2009.
  16. ↑ Watt, Holly (4 April 2016). "Tory donors' links to offshore firms revealed in leaked Panama Papers". the Guardian. Retrieved 6 August 2022.
  17. ↑ Mann, Will (16 September 2014). "JCB's Bamford honoured by Royal Academy of Engineering" . Retrieved 7 October 2023.
  18. ↑ "Tories boosted by construction donations". The Construction Index. 25 August 2017. Retrieved 25 August 2017.
  19. ↑ Dodd, Vikram (31 May 2010). "Conservatives confirm leading party donor withdrew from peerage list | Politics | The Guardian". The Guardian . London: GMG. ISSN   0261-3077. OCLC   60623878 . Retrieved 31 October 2012.
  20. 1 2 Doward, Jamie (14 November 2010). "Feud between Bamford brothers threatens to cast light on funding for Tories". the Guardian. Retrieved 5 August 2022.
  21. ↑ "J. C. B. Research". Companies House. Retrieved 6 August 2022.
  22. ↑ Quinn, James (1 August 2013). "Sir Anthony Bamford and Dame Lucy Neville-Rolfe lead list of new business peers". The Daily Telegraph. London.
  23. ↑ "EU referendum: JCB chairman tells staff of Brexit support". BBC News. 15 June 2016.
  24. 1 2 Chan, Szu Ping (10 October 2016). "Manufacturing giant JCB ends CBI membership over anti-Brexit stance". The Daily Telegraph. Retrieved 25 August 2017.
  25. ↑ Millard, Rachel (15 May 2021). "JCB chief rejects invitation to rejoin CBI after Brexit row". The Telegraph. ISSN   0307-1235 . Retrieved 26 May 2021.
  26. ↑ Burton, Lucy (10 May 2021). "New CBI boss tells Brexiters to rejoin business lobby group". The Telegraph. ISSN   0307-1235 . Retrieved 26 May 2021.
  27. ↑ McCall, Nick Rodrigues and Alastair. "Top 50 political donors who bankrolled the UK election 2019". The Times . ISSN   0140-0460 . Retrieved 28 May 2020.
  28. ↑ Statesman, New (27 September 2023). "The New Statesman's right power list". New Statesman. Retrieved 14 December 2023.
  29. ↑ "Working peerages announced". GOV.UK. Prime Minister's Office, 10 Downing Street. 1 August 2013. Retrieved 27 August 2024.
  30. ↑ "No. 60649". The London Gazette . 7 October 2013. p. 19679.
  31. ↑ Lord Bamford (10 June 2014). "Queen's Speech". Parliamentary Debates (Hansard) . Vol. 754. United Kingdom: House of Lords. col. 266–268.
  32. ↑ "Lord Bamford: Spoken contributions". members.parliament.uk. UK Parliament. Retrieved 27 August 2024.
  33. ↑ UK Parliament (1 March 2024). "Lord Bamford, Parliamentary career". UK Parliament House of Lords. Retrieved 3 June 2024.
  34. ↑ "Lord Bamford retires from the House of Lords". BBC News. 8 April 2024. Retrieved 3 June 2024.
  35. ↑ Hart, Carolyn (9 November 2012). "Versatile venison recipes from Daylesford Organic". The Telegraph. ISSN   0307-1235 . Retrieved 10 April 2018.
  36. ↑ "Tory donors' links to offshore firms revealed in leaked Panama Papers". The Guardian. 4 April 2016.
  37. ↑ "The Bamfords' charmed lives – until now". The Independent. 12 December 2009. Retrieved 1 March 2024.
  38. ↑ Dempsey, Harry (6 September 2021). "JCB heir Jo Bamford launches hydrogen fund". Financial Times.
  39. ↑ "JCB founder's grandson new boss of compact machines arm".
  40. ↑ "Bamford closes deal to acquire Wrightbus out of administration". The Irish Times. Retrieved 1 March 2024.
  41. ↑ "As JCB heir's son takes Wrightbus reins, how many jobs can be saved?". 12 October 2019.
  42. ↑ "Big Wheel: The social circle of Sir Anthony Bamford" . The Independent. London. 23 August 2006. Archived from the original on 7 May 2022.
  43. ↑ Badshah N. The Guardian 29 Jul 2022 Boris and Carrie Johnson to hold wedding party at Tory donor’s estate.
  44. ↑ "JCB boss pays for Boris Johnson's wedding toilets and food". BBC News. 8 September 2022. Retrieved 23 March 2023.
  45. ↑ "Ascot Racecourse on Twitter". Twitter. Retrieved 29 June 2023.
  46. ↑ Isaac, Anna; editor, Anna Isaac City (22 October 2023). "Tory donors from JCB empire could face £500m bill to settle tax inquiry". The Guardian. ISSN   0261-3077 . Retrieved 3 June 2024.{{cite news}}: |last2= has generic name (help)
  47. ↑ "ECR - Collection - Bamford Family Collection". ECR - Collection - Bamford Family Collection. Retrieved 25 July 2022.
  48. ↑ Debrett's Peerage. 2019.
Business positions
Preceded by Chairman of JCB
1975–present		Incumbent
Orders of precedence in the United Kingdom
Preceded by Gentlemen
Baron Bamford		Followed by
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