A Yorkshire stairlift tycoon, who now lives among the glitzy streets and superyachts of Monaco, has been paid nearly £100m in dividends over the last 10 years and is now estimated to be worth £210m.
John Jakes is chairman and 100% stakeholder of Acorn Mobility Services, which has seen sales boom in recent times to nearly £225m last year.
Since 2010, Mr Jakes has paid himself nearly £98m and according to accounts filed with Companies House, paid out a dividend of around £21m in the year ended September 2019 and then a near £13m dividend following the period.
Mr Jakes appeared in the Sunday Times Rich List this year above Brian and Alan Stannah, the men behind Acorn’s largest competitor, Stannah Lifts.
Acorn Mobility posted revenues of around £225m last year, a 6% increase on 2017. Its operating profits were also up to over £22m.
The company now has more than 1,500 staff and last year spent £75,000 on research and development.
Earlier this year Acorn was caught up in controversy after its salesmen were alleged to have carried out high pressure sales tactics.
The company, which is under investigation by the BHTA, said that it was disappointed by the accusations and said they do not reflect the “extremely positive” feedback it receives from its customers.
Acorn has been approached for comment.