Philip Green and Arcadia Group
Sir Philip Green, known for partying with model Kate Moss and X Factor’s Simon Cowell, as well as his business acumen, banked the biggest pay cheque in corporate history in 2005 when his Arcadia fashion business, which owns Topshop, paid a £1.2bn dividend. The record-breaking payment was paid to his wife, Tina, who lives in Monaco and is the direct owner of Arcadia. As a result, no UK income tax was due.
It has been estimated that the Green family saved £285 million as a result of the arrangement used.
The Guardian, 19 August 2010
- Image: Andrew Aitchison