Ecclestone’s son-in-law loses £842k on gold deals

TRADING in gold bullion is usually seen as a licence to print money but, curiously, Formula One billionaire Bernie Ecclestone’s son-in-law has managed to post a loss.

I can disclose that James Stunt, who is married to Bernie’s 28-year-old daughter Petra, right, achieved an impressive turnover of £43.5million with his business Stunt & Co.

However, newly published accounts at Companies House report that it made a loss of £842,000.

‘It’s all most intriguing,’ a source tells me. ‘How on earth did he manage it?’

Stunt’s brother, Lee, was the company’s chief financial officer until his death last year at the age of 37. His

untimely death was the latest misfortune suffered by James, whose family home in Chelsea was attacked with a petrol bomb last April.

The terrifying incident was caught on CCTV, as a bottle was lobbed over security gates before landing on the drive and bursting into flames just yards from Petra’s Range Rover.

Detectives are still searching for two hooded youths seen running past the tall gates of the £20 million property.

Luckily, Petra and her three young children were not at home when the bombers struck. A spokesman for Stunt told me at the time that the incident was ‘thought to be the action of a disaffected member of the public who disapproves of the Stunts’ lifestyle’.

The couple are known for their lavish way of life and James’s 35th birthday party at St James’s nightclub Tramp last month was attended by guests including Chloe Green, daughter of ‘Sir Shifty’ Philip.

Stunt & Co, which is owned by Stunt, the sole director, reports the loss was triggered by the ‘cost of sales and other operating income’ at £42.2million and admin costs of £2 million.

A spokesman for Stunt & Co said: ‘The results were in line with expectations. During the first year of trading, revenue generation and brand building were the principal concerns of the business — at the expense of profits.’

No salaries or wages were paid to employees or directors. Given that Petra is an heiress to Bernie’s estimated £2.48billion fortune, she and Stunt shouldn’t have too much trouble keeping the wolf from the door.