Gerald Ronson

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Gerald Maurice Ronson is a British business tycoon and philanthropist, and became known in the UK as one of the "Guinness Four" for his conviction in the Guinness share-trading fraud of the 1980s.

1 Career
2 The Guinness Affair
3 External links

[edit] Career

When Ronson was fifteen, he left school and joined his father in the family furniture business, named Heron after his father Henry. The company expanded into other activities; in the mid-1960s Ronson brought the first self-service petrol retail outlets to the United Kingdom. Heron once controlled almost a thousand of them. Heron was also involved in property (American usage real estate) development, at first with small residential projects, later with commercial and office properties too. By 1967 the company was active in seven European countries and fifty-two British municipalities. By the early 1980s Heron was one of the largest private companies in the United Kingdom, with assets of over £1.5 billion, but the company was over-extended and by the 1990s had almost collapsed with debts of £2.4 billion owed to 89 banks and 15,000 bondholders. The company survived with help from Bill Gates, Rupert Murdoch, Craig McCaw, Oracle Corporation’s founder, Larry Ellison, and others who gave loans to Heron.

[edit] The Guinness Affair

Ronson became known in the UK as one of the "Guinness Four" for his part in the Guinness share-trading fraud of the 1980s, along with Ernest Saunders and occasional business associates Jack Lyons and Anthony Parnes. He was convicted in August 1990 of one charge of conspiracy, two of false accounting, and one of theft, and was fined £5 million and given a one-year jail sentence, of which he served six months.