A Nice little earner: Sir Tom sells £50m villa

Published on Wednesday 5 November 2008 21:10

A YEAR ago, he was Scotland's wealthiest man, with a personal fortune of £1 billion and a desire to give away the same sum to worthy causes throughout his lifetime.

This week, however, it was reported that Sir Tom Hunter's assets have fallen to 750 million, toppling him from the summit of the rich list.

But the entrepreneur is refusing to be defeated by the global financial turmoil and has now sold his villa in Cap Ferrat, near Nice, for an estimated 50 million.

The property is one of the most impressive in the south of France, with computer tycoons and race ace David Coulthard as near neighbours.

A spokesman for Sir Tom refused to comment on the sale, but property agents – who speculated the house had been sold to a Russian oligarch – believe the villa was sold for about 50 million.

Dennis Broadfield, the managing director of the upmarket property firm totally riviera.com, said: "It is probably the most desirable piece of the Riviera.

"It's very private. A little peninsula, and 100 years ago a lot of wealthy Americans built their villas here."

Sir Tom's former villa is situated between Nice and Monaco and, in 2002, was the venue for a charity dinner that the entrepreneur hosted for the Princess Royal.

In the grounds, in 2007, he pledged to give away 1 billion to his charitable foundation.

The pledge is thought to have been the single most generous philanthropic commitment ever made by a Briton.