The UK’s wealthiest young entrepreneur has been announced as 30-year-old Alex Loven – and he’s worth £55million.
The founder of Net World Sports has found his way on to the Sunday Times Rich List, after his wealth rose from £28 million last year.
The youngster sold his first sport item to his pals at school, after bagging himself a Cricket Bat on eBay.
He’d paid £60 for the bat, but when it arrived it said ‘Made in India’ on it.
He told the Metro last month that he contacted the company and found it cost them just £6 to make.
He bought 10 more direct, and sold them to his mates for £60 each, but his hobby soon turned into a business.
Alex’s first job was at a builders’ merchant, and he squirreled his wages away.
He soon had £13,000 to buy a container full of sports equipment.
And despite not realising he had to pay VAT, and his mum bailing him out, he says its the best investment he ever made.
Alex told the Metro: “I went to Barclays to get an overdraft; they made me do a business plan and said they couldn’t help me.
“So my mum got a £2,000 loan out to cover it. The bank didn’t take me seriously because of my age.
“My best investment was that container — it changed my life.”
Alex, who went into business with his dad, now sells more than 100,000 goal nets a year across the globe, and believes they sell more than any other company.