Billionaire Dermot Desmond: A Biography

Overview

Dermot Desmond is a self-made Irish billionaire investor, businessman, and entrepreneur. He is the founder of International Investment and Underwriting (IIU), one of the largest investment companies in Ireland. Desmond is also known for his philanthropic work and charitable contributions.

Early Life and Education

Desmond was born on August 14, 1950, in Macroom, County Cork, Ireland. His father owned a bar and grocery store, and his mother was a housewife. He attended Christian Brothers College in Cork before studying at the Irish Management Institute in Dublin.

Career and Achievements

Desmond started his career working for a Dublin stockbroking firm, but he soon left to start his own business. In 1978, he founded IIU, which became one of the leading investment companies in Ireland, specializing in financial services, technology, and telecommunications. He made a fortune through strategic investments in companies such as Baltimore Technologies, One51, and Esat Digifone.

In addition to his business ventures, Desmond has been actively involved in sports. He is the former owner of Glasgow Celtic Football Club and a shareholder in Manchester United Football Club. He has also been a horse racing enthusiast and the owner of thoroughbred horses that have won major races such as the Irish St. Leger.

Desmond is also known for his philanthropy and charitable contributions. He has been an active supporter of numerous causes, including cancer research and education. He founded the Irish Youth Foundation, which provides support to disadvantaged young people in Ireland.

Personal Life

Desmond is a private individual and prefers to keep his personal life out of the public eye. He has been married three times and has six children.

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