How did Bernie make his fortune??

[DanDC5]

I've always wondered this, before he bought an F1 team how did he make his money to get to that point?

[birdcage]

Have you read his book?

He exploted every opportunity he had or has but starting off selling cars..

[AndrewW-G]

Selling sweets, then pens, then motorbikes, cars, houses, property, racing cars / team, then turned F1 into a very slick commercially successful international business, by seizing every opportunity to put a few more pennies in his bank accounts . . . . . .he may have made a few "interesting" decisions, but there’s no denying that he's worked hard at life.

[28jaguar]

I haven't read his book, wasn't he Jochen Rindt's manager before buying Brabham?

[Rouleur]

<cough> Great Train Robbery <cough>

[DanDC5]

birdcage said:

Have you read his book?

He exploted every opportunity he had or has but starting off selling cars..

Not yet, think it may have to be a purchase though.

[belleair302]

During a period of Grand Prix racing with a gentle influx of sponsor funds, bernie saw the opportunity of turning a niche sport into a global TV spectacle. He promised the team owners a fortune (way back when) in return for them to turn up, smarten up their cars and work alongside him guaranteeing a decent turnout. Bernie is a great negotiator and salesman....most of the team owners, even today are frustrated engineers or drivers (yes even the so called businessmen). Few could manage to organise a GP, let alone negotiate contracts with governments, hospitality suppliers, advertisers, TV companies and merchandising specialists, let alone the politics and big ego's. Bernie was in the right place at the right time and took his opportunity. He has also had some very intelligent help and made a number of people very rich too!!!

[AJS-]

Not to take anything away from him, but he was lucky to be in the right place at the right time, and smart to seize the opportunity with both hands and then milk it for every penny it was worth.

[Crafty_]

Read "Bernies Game" by Terry Lovell.

He started out selling cars from a phone box, then started renting forecourt space from another dealer - he pretty quickly saw him off and bought the whole business and just went from there.

In short: total ruthlessness, sharp wits and an eye for a deal

[C Lee Farquar]

Rouleur said:

<cough> Great Train Robbery <cough>

Hornby?

[jbudgie]

He has made F1 worse in my opinion.

[bananaman1]

jbudgie said:

He has made F1 worse in my opinion.

How ?

i think f1 would has come along way under his control,hate to think what it would be without him.maybe not have survived ?

[jbudgie]

Of course it would have survived--for the enthusiasts---not for every man and his dog.

Perhaps you dont remember Jim Clark et al---before sponsorship became the be all and end all.

[Chrisgr31]

The question is how much does he get paid to run F1, bearing in mind he put all his money into trust for his wife and daughters and then his wife divorced him!

So how does he still seem to have lots of money?

[Crafty_]

Chrisgr31 said:

The question is how much does he get paid to run F1, bearing in mind he put all his money into trust for his wife and daughters and then his wife divorced him!

So how does he still seem to have lots of money?

I suspect you'll find what is publicly known of his finances and the reality are somewhat different.

In other words he's got more hidden away in various hidey holes than he knows what to do with.
Allegedly he left some race circuits in the 80s with suitcases full of cash, got on his jet and flew home... I reckon thats the tip of the iceberg with regards to dodgy money handling.

He recently mentioned if the price was right he'd by F1 back from CVC Partners so can't be too badly off.

[skeggysteve]

Crafty_ said:

I suspect you'll find what is publicly known of his finances and the reality are somewhat different.

'Somewhat' - I think is somewhat of an understatement!


Bernie doesn't really run F1. But the powers that do run it let Bernie do their work.

They let Bernie 'run' it because they know it's in everyone's best interest.
Well everyone involved in F1 that is.

Many year ago Bernie, as a team owner, got all the other the teams to agree to him making deals with the circuits for start money.
They used to all make separate deals, so it made sense.
This then evolved into TV deals.
Bernie also made circuits have certain facilities most notably the medical ones.

The reason you are able to watch so much F1 on TV today is down to Bernie.
Love or hate him he is the single reason why why F1 is where it's at today.

[ginettajoe]

Rouleur said:

<cough> Great Train Robbery <cough>

Sssssshhhhhhh ............ that's his best kept secret!!!!

[Crafty_]

skeggysteve said:

'Somewhat' - I think is somewhat of an understatement!


Bernie doesn't really run F1. But the powers that do run it let Bernie do their work.

They let Bernie 'run' it because they know it's in everyone's best interest.
Well everyone involved in F1 that is.

Many year ago Bernie, as a team owner, got all the other the teams to agree to him making deals with the circuits for start money.
They used to all make separate deals, so it made sense.
This then evolved into TV deals.
Bernie also made circuits have certain facilities most notably the medical ones.

The reason you are able to watch so much F1 on TV today is down to Bernie.
Love or hate him he is the single reason why why F1 is where it's at today.

For the medical stuff read the sid wakins books, they are only a few quid each but are excellent. Sid tells of turning up at tracks to inspect the facilities and not being let in, a quick call to Mr E and they couldn't do enough for him all of a sudden

I think Mr E also struck a deal for the air freight to get cars/equipment to the circuits, then rounded up the teams to all pay in because he'd got a cheaper "bulk" deal than a team could strike on its own. IIRC FOM are still responsible for air freight shipping.

[vtgts300kw]

skeggysteve said:

Many year ago Bernie, as a team owner, got all the other the teams to agree to him making deals with the circuits for start money.

I believe it was more a case that nobody else ( the teams ) had the balls to do it, as he effectively became the promotor and underwriter. The first GP where this arrangement took place was the French GP I think. That is where the story of him returning to the UK with suitcases full of money comes from.

[Life Saab Itch]

I think you'd have to sell a lot of second hand Morris Minors and Ford Anglias in the sixties to be able to afford Brabham in 1971 (?), a team which came perilously close to winning the 1970 WDC with Black Jack.

It wouldn't have been a cheap team to buy.



This makes me wonder about the rumours that Bernie had a night job on the railways.


In an entirely unrelated thought, Roy Salvadori and Tony Brooks both reside in Monaco. How did they find the money to buy property there? They were both top racers in their time, but I very much doubt Brooks' dentists earnings after his motor-racing retirement, would have covered the purchase price.


By shear coincidence, I found out not long ago that a certain Max Rufus Mosley, at the time of the GTR, rented the next farmhouse along from the one where the train robbers were caught...well, the ones that were caught.



Allegedly...etc.

Edited by Life Saab Itch on Friday 14th October 12:16