Paul Kemsley Net Worth

Overview

Paul Zeital Kemsley, also known as PK Kemsley, is a British businessman, property developer, and media personality. He was born on August 17, 1967, in England. Kemsley began his career in real estate and eventually founded Rock Joint Ventures Ltd, a successful property investment and development firm. At its peak in 2007, the company’s portfolio was valued at $1 billion. However, like many in the real estate sector, Kemsley faced financial difficulties during the 2008 real estate crash. In the United States, Kemsley is also known for relaunching the New York Cosmos soccer club and managing the late soccer legend Pele. He gained further international recognition through his appearances on ‘The Real Housewives of Beverly Hills’ alongside his wife, Dorit Kemsley. He also serves as Boy George’s manager. Beyond property and entertainment, Kemsley has been involved in various entrepreneurial endeavors. He is known for his association with Tottenham Hotspur F.C., where he served as Vice-Chairman. Currently, he is a Director at Robert Irving Burns, a London-based commercial and residential property advisory firm.

Robert Irving Burns

Director

Here’s a detailed overview of Paul Kemsley’s net worth and financial history: ## What Is Paul Kemsley’s Net Worth? Paul Kemsley, also known as PK Kemsley, has an estimated **net worth of $50 million** as of 2024. This wealth is primarily attributed to his diverse career as a British businessman, sports executive, property developer, and celebrity manager. ## Early Life and Career Beginnings Born on August 23, 1967, in Stanmore, UK, Paul Kemsley’s early career started while he was still in high school. He worked at a menswear store, where he met Mike Ashley, who later became a billionaire through Sports Direct. Kemsley and Ashley engaged in games of darts for money. Kemsley attended Atholl School in Rayners Lane, Harrow. He left school at 17 and worked as a junior surveyor at Gross Fine. From 1985 to 1992, he worked as an agent at Ross Jaye, a commercial real estate firm. ## Rise and Fall in Real Estate * **1992:** Kemsley joined Ashley at Sports Direct to help expand the group. * **1995:** At the age of 28, Kemsley launched his own real estate investment and development firm, Rock Joint Ventures Ltd. * **2007:** Rock’s property portfolio reached a value of $1 billion. * **Peak Net Worth:** At his peak in 2007, Paul Kemsley’s net worth was approximately $250 million. One of his most successful deals involved purchasing a London office block for $50 million and selling it for $100 million within months to a Russian businessman. * **2008 Real Estate Crash:** The real estate crash significantly impacted Kemsley’s company, Rock Joint Ventures. By 2009, Rock was placed into administration, ending Kemsley’s involvement. * **Financial Difficulties:** In March 2012, Kemsley filed for bankruptcy in New York, claiming debts between $10 million and $50 million. He stated having only $104 in cash and $1,000 in the bank at the time. He had monthly expenses of $34,000. He re-attempted to file for bankruptcy in 2013. ## Sports and Entertainment Ventures * **New York Cosmos:** Kemsley relaunched the New York Cosmos soccer club, bringing in Pelé as the honorary President. After selling his stake, he invested in Pelé’s commercial rights. He stepped down in 2011. During his time with the Cosmos, he partnered with Pelé to boost the club’s profile and later co-founded a management agency, originally named Sport 10 and later rebranded as Legends 10. * **Tottenham Hotspur:** Kemsley served as the vice-chairman of Tottenham Hotspur from 2001 to 2006. * **Celebrity Management:** Kemsley manages Boy George. He also manages his wife, Dorit Kemsley’s career. ## “The Real Housewives of Beverly Hills” Since 2016, Paul Kemsley has gained more international recognition through his appearances on “The Real Housewives of Beverly Hills” alongside his wife, Dorit Kemsley. ## Personal Life and Real Estate * **Marriage:** Paul Kemsley is married to Dorit Kemsley, a designer and founder of a swim and resort line called “Dorit.” * **Gambling Debt:** In August 2018, it was revealed that Kemsley had accumulated $3.6 million in gambling debt at the Bellagio Hotel in Las Vegas. He made five payments totaling $850,000 between 2010 and 2011. * **Real Estate:** In August 2019, Paul and Dorit Kemsley purchased a home in Encino, Los Angeles, for $6.5 million. They listed the home for $9.5 million in September 2020. They also co-own a Beverly Hills mansion with a business partner, which was listed for $12.85 million and later reduced to $7.5 million. ## Additional Ventures Kemsley has developed investments in online betting operators, including Party Gaming, Chinese-licensed Betex, and FUN Technologies. ## Financial Setbacks and Recovery Despite his current net worth, Kemsley has faced significant financial challenges, including a bankruptcy filing in 2012. He has since rebuilt his wealth through various ventures in real estate, sports, and entertainment. In 2023, it was reported that Kemsley owed $986,887 in taxes to the IRS. Dorit Kemsley also allegedly owed $90,269 in taxes.

Overview

Robert Irving Burns

Celebrity Net Worth