Scot Young
| Scot Young | |
|---|---|
| Born |
1962 Dundee, Scotland |
| Died |
8 December 2014 (age 52) London, England |
| Occupation | Entrepreneur |
| Net worth | £400 million |
| Spouse(s) | Michelle Young (from 1995) |
| Partner(s) | Noelle Reno (from 2009) |
| Children | Scarlet Young, Sasha Young |
| Parent(s) | Duncan and Betsy Young |
Scot Young (1962 – 8 December 2014) was a Scottish property tycoon, believed to have earned £2 billion, but who claimed to be penniless during a high-profile divorce case. After receiving psychiatric treatment, he committed suicide by jumping from a window in the London flat of his ex-girlfriend. A leaked document later showed that he had kept large sums in an offshore account.
Early life
He was raised in a tenement at 8 Clepington Street, in the Stobswell area of Dundee, Scotland,[1] the son of Duncan Young, a former Dundee United football player, and his wife Betsy.[2]
Property career
Young began to make money in the property boom of the 1980’s, with some help from his father-in-law. His wealth then grew rapidly to an estimated £2 billion, through deals that were shrouded in secrecy. During his long divorce battle, he claimed he had lost all his money in a failed property venture in Moscow. However, a leaked document showed that he had used a Panama-based law firm, Mossack Fonseca, and other offshore businesses to stash his assets in Russia, the British Virgin Islands and Monaco.[3]
Death
On 8 December 2014 he died, after falling from a fourth-floor flat and being impaled on railings at 33 Montagu Square, Marylebone, London.[4] Before he jumped, he phoned his ex-girlfriend Noelle Reno, and told her, "I'm going to jump out of the window. Stay on the phone, you will hear me."[5] Young had recently completed time in prison as a result of his former wife's application to the family court. After the onset of his wife's divorce application, he had been diagnosed with bipolar disorder, and had been treated for "drug and alcohol abuse".[5]
Personal life
Young was married to Michelle for 11 years, from 1995 until 2006. Michelle's divorce applications lasted nearly a further 8 years. Young claimed that a failed Russian property deal had left him in debt. Michelle disagreed, and alleged that he was had "a few billion pounds at least".[6] His net wealth had been estimated at £400 million, and after 65 court hearings and millions spent in legal fees, she was awarded £20 million in 2013. As of December 2015, she claims never to have received a penny of this settlement, has set up a campaign group, the Michelle Young Foundation, and her lawyers are suing her for £11.2 million in unpaid fees.[6]
Young lived at 33 Montagu Square with his girlfriend, Noelle Reno, an American fashion entrepreneur and former model,[5] who he started dating in 2009.
The ground floor and basement of the house next door was once leased to the Beatles drummer Ringo Starr, Jimi Hendrix lived there in 1967, and John Lennon lived there in 1968 (there is a blue plaque outside), with the basement converted by them into a recording studio.
References
- ↑ "Tycoon Scot Young's humble beginnings in Clepington Street". thecourier. 26 November 2012. Retrieved 6 December 2015.
- ↑ Garavelli, Dani (14 December 2014). "Dani Garavelli: Final riddle in Scot Young's life". scotsman. Retrieved 6 December 2015.
- ↑ http://www.dailymail.co.uk/news/article-3522428/How-billionaire-husbands-including-Scot-Young-use-mysterious-Panama-law-firm-hide-fortunes-wives-divorce.html#ixzz44rEIqmMF
- ↑ "Fall death of Scots tycoon 'cannot be ruled a suicide'". Bbc.com. Retrieved 2015-12-06.
- 1 2 3 Connett, David (16 July 2015). "Scot Young inquest: Coroner rules death of tycoon 'can't be called suicide'". The Independent. Retrieved 6 December 2015.
- 1 2 Boffey, Daniel (6 December 2015). "Meet the First Wives Club". The Guardian. Retrieved 6 December 2015.