Billionaire car salesman left just £4m in his will
AS Britain’s first billionaire car salesman, Sir Arnold Clark routinely surprised the business world by posting huge profits.
He created Europe’s largest independently-owned car company, with annual sales of £3.7 billion. But the final financial figures from the man who died aged 89 last year will raise a few eyebrows.
Despite his family being valued at £1.175 billion in the Sunday Times Rich List, he left less than £4 million in his will.
The sole beneficiary is his widow, Lady Philomena, 71, who lived with him at Crowhill House in Killearn, Stirlingshire. As he left his fortune to her, Sir Arnold’s estate has no liability for tax.
His share of the family home was valued by Clyde Property at £1,750,000, the largest item in his total estate of £3,897,365. He also had a £675,000 interest in a house in Inverness-shire.
The tycoon owned three shops in Glasgow’s Park Road, where he began his business in 1954. These were valued by Allied Surveyors Scotland at £433,000.
At the time of his death in April last year, he had £359,359 in a joint bank account with his wife. One financial adviser said: ‘People will be surprised that someone described as a billionaire has left less than £4 million in his will.’
The company declined to comment.