Millionaire Owner Of Poundland Lives On £20 A Day

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piundy Millionaire Owner Of Poundland Lives On £20 A Day

The multi-millionaire owner of high street shop Poundland has revealed that when he sold the company for £50 million back in 2000, he gave his parents £25 million.

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Not only that, but Steve Smith also revealed that he now lives off £10/£20-a-day pocket money that he gets from his wife.

The 52-year-old lives in a £6.5m 13-bedroom mansion in Shropshire with his family, but insists on living off small handouts from his wife as he ‘cannot be trusted with money’.

landy Millionaire Owner Of Poundland Lives On £20 A Day

The self-made businessman told The Telegraph:

On a day-to-day basis my wife gives me a little pocket money. The problem with me is that if I have any cash on me, I spend it, so she’ll give me about £10 or £20 a day.

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Poundland these days has hundreds of stores across the UK, but was originally started as a small market stall in the West Midlands.

Mr Smith opened his first store in West Bromwich when he was just 18 after receiving a £50,000 loan from his parents.

land Millionaire Owner Of Poundland Lives On £20 A Day

Clearly, Steve is a man of his word, as he repaid his parents for their start up loan with half of the company’s earnings when it sold. Which was a cool £25 million.

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Speaking on the success of Poundland, Mr Smith said:

Money gives you lots of different opportunities but it’s important not to forget where you’ve come from.

Fair play to ya, Steve!

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