Sam Altman, the founder of ChatGPT-maker OpenAI, is poised to receive more than $10bn (£7.5bn) as the company prepares to abandon its long-standing non-profit status. OpenAI is considering granting Altman a 7% stake as it raises funds at a valuation of around $150bn. This move would make Altman’s stake worth approximately $10.5bn. OpenAI, originally founded […]
Tropic Skincare, the beauty brand founded by The Apprentice finalist Susie Ma, has reported a 28% rise in profits, reaching £6.7 million, despite a 4% drop in sales to £62.3 million. Ma, who reclaimed full ownership of the company last year by buying back the 50% stake sold to Lord Sugar in 2011, attributed the […]
Sir Rocco Forte, the luxury hotelier behind Rocco Forte Hotels, has criticised the current government’s “anti-growth” policies, warning that they are pushing Britain back to the economic challenges of the 1970s. Forte, whose business includes the Balmoral Hotel in Edinburgh and Brown’s in London, claimed that policies “based on socialism” are driving away investment and […]
Choosing between leading two iconic supercar brands might seem like an enviable dilemma, but for Adrian Hallmark, who has moved from Bentley to Aston Martin Lagonda, it’s a decision fraught with risks. Hallmark, 61, steps in as Aston Martin’s fourth chief executive in as many years, taking the reins at the company’s Gaydon headquarters this […]
Mike Lynch, the renowned British technology entrepreneur often dubbed the “British Bill Gates,” passed away on August 22, 2024, at the age of 59. Lynch was a pivotal figure in the UK tech industry, known for founding Autonomy, a software company that revolutionised data management and led to a high-profile, 12-year legal battle with Hewlett-Packard […]
In an exclusive interview with ‘Business Matters’, the founders of Temple of Incense share their inspiring journey of turning a family tradition into a thriving business. Rooted in their Punjabi heritage, they reveal the cultural inspirations behind their unique incense offerings, their admiration for their resilient ancestors, and the hard-earned lessons they’ve learned along the […]
In a landmark deal for the biotech industry, EyeBio, a London-based startup co-founded by Dame Kate Bingham, has been acquired by US pharmaceutical giant Merck, known as MSD in the UK, for up to $3bn (£2.36bn). This acquisition is poised to revolutionise treatments for blindness. Merck has committed to an initial payment of $1.3bn (£1bn) […]
Sara Davies, a familiar face from the hit show ‘Dragons’ Den’, has opened up about the hurdles her £37 million arts and crafts company, Crafter’s Companion, has encountered in recent years. The 39-year-old entrepreneur is candid about the tough times her company is enduring and her relentless efforts to navigate through them. Crafter’s Companion, a […]
Former Formula One champion Nico Rosberg, known for his triumph over Lewis Hamilton in the 2016 world championship before his retirement, is now steering into a new domain: asset management. The 38-year-old has recently secured €30 million in funding to launch Rosberg Ventures. Rosberg Ventures, dubbed a “fund of funds,” is poised to invest in […]
Husband and wife, Ian and Louise Toal from Much Wenlock in Shropshire secured a £50,000 investment for a 35% share of their company from fashion retail entrepreneur and investor, Touker Suleyman on BBC One’s Dragons’ Den, for their award-winning range of smoothie drinks for dogs. Furr Boost was the inspiration of Louise who, for over […]