Founder of Soho House private members clubs sells £15m of his stake after Covid halted expansion plans
The founder of Soho House private members clubs has sold £15m of his stake after the virus halted the company’s expansion plans.
Nick Jones, 57, who is married to broadcaster Kirsty Young, sold 1 per cent of his holding to US billionaire Ron Burkle, who already owns three-fifths of the business.
Exclusive: Soho House, which counts Meghan Markle as a fan, was founded in 1995 and offers membership to its 27 clubs for £1,750 per year
The £1.5billion valuation matched the price tag at the company’s £74m fundraising this summer.
Soho House, which counts Meghan Markle (pictured), and rapper Professor Green as fans, was founded in 1995 and offers membership to its 27 clubs for £1,750 per year.
sale will leave Jones with a stake of less than 10 per cent.
Soho House has shed 1,000 jobs of its global workforce and is expected to post £5m earnings this year.