Former Formula One boss Bernie Ecclestone has admitted fraud after failing to declare more than £400m held in a trust in Singapore. Today we will discuss about Bernie Ecclestone: Net worth| Children| Fraud.
Bernie Ecclestone: Net worth| Children| Fraud
Bernard Charles Ecclestone (born 28 October 1930) is a British former business magnate. He is the former chief executive of the Formula One Group, which manages Formula One motor racing and controls the commercial rights to the sport. Thus, he was commonly described in journalism as the ‘F1 Supremo’. In October 2023, he pleaded guilty to tax fraud, and agreed to pay approximately £653m in back taxes and fines. He was sentenced to 17 months in prison, suspended for two years.
| Born |
Bernard Charles Ecclestone
28 October 1930[1] St Peter South Elmham, Suffolk, England
|
|---|---|
| Occupation | Businessman |
| Years active | 1950–present |
| Title | Chairman Emeritus of Formula One Group (2017–2020) |
| Spouses |
Ivy Bamford
(m. 1952, divorced)Slavica Radić
(m. 1985; div. 2009)Fabiana Flosi
(m. 2012) |
| Children | 4; including Tamara and Petra |
Net worth
Before the fraud verdict, Bernie Ecclestone’s net worth was reported to be £2.498 billion earlier this year.
Children
Ecclestone had a 17-year relationship with Tuana Tan, which ended in 1984 when Slavica Radic, later his second wife, became pregnant. Ecclestone was married to Radic, a Yugoslavian-born former Armani model, for 23 years. The couple have two daughters, Tamara (born 1984) and Petra (born 1988).
Fraud
Former Formula 1 boss Bernie Ecclestone has been given a suspended sentence after pleading guilty to fraud.
The 92-year-old man failed to disclose more than £400m he held in a trust in Singapore when questioned by tax authorities in 2015.
The court heard that Ecclestone has agreed to repay approximately £653 million to HM Revenue and Customs (HMRC) in a civil settlement.
He was sentenced to 17 months in prison, suspended for two years.
The billionaire was due to go on trial next month after initially pleading not guilty.
The settlement covers Ecclestone’s tax cases over the past 18 years, including interest and civil penalties.
