Tina Green

Christina "Tina" Green, Lady Green (born August 1949)[1] is an English billionaire businesswoman, who is based in Monaco. She was appointed treasurer to the private charitable foundation of Charlene, Princess of Monaco, in 2017.[3]

"Christina Green" redirects here. For the 2011 Tucson shooting victim, see 2011 Tucson shooting § Victims.

Tina Green
BornAugust 1949[1]
England
NationalityBritish
OccupationBusinesswoman
Net worth£5 Billion (2016)[2]
TitleLady Green
Spouse(s)Robert Palos (divorced)
Sir Philip Green
Children4, including Stasha and Brett Palos

Early life and career

She was born in England (not in South Africa as is sometimes suggested) to a father who "worked in the wine trade", and traveled widely when young.[4] She spent her childhood in Hongkong and Japan. Tina Green opened her first fashion boutique in Johannesburg, when she and her family moved to South Africa.[5]

Married to British retail businessman Sir Philip Green, her second husband, Tina Green owns all of the family shares in Jersey-registered Taveta Investments. As a result, she has been referred to as the wealthiest[6] and second-wealthiest woman in the UK.[7]

Tina Green also co-founded an interior design firm, Green and Mingarelli Design.[8]

Taveta Investments

Via Jersey-registered Taveta Investments and its subsidiaries, Green owns 2,300 shops in the United Kingdom. Taveta's assets include:

As a result, Taveta (and hence Green) controls 12% of the UK clothing retail market, making Taveta the second-largest operator in the sector. The leader, Marks & Spencer, has been the target of three unsuccessful takeover bids from Taveta.

Criticism

Green's wealth stems from her relationship with her second husband, British retail magnate Sir Philip Green. The arrangement between the married couple (with working-week London resident Sir Philip as the CEO or Chairman of all companies, while Tina Green remains the sole shareholder via Jersey-based Taveta Investments, but resident in Monaco) means that the couple minimise their UK taxation liability.

As a result, Sir Philip has become the target of activist group UK Uncut, initially in November 2010, for his history of corporate tax avoidance. The group targeted Sir Philip specifically as a UK Government advisor.[11] He became the focus of anger over the programme of government cuts that campaigners said could be avoided if tax dodging was stamped out, bringing in some £25bn a year to the public purse and reducing the national debt.

On 4 December 2010, campaigners staged a sit-in at Arcadia's flagship London Topshop store in Oxford Street. In Brighton, a few campaigners glued themselves to the branch's windows. Other high streets in towns and cities across Britain saw similar protests in a day of action against the tax arrangements of rich individuals and big businesses.

Since Taveta Investments is owned by Tina Green, who resides in Monaco, protestors claim that the couple avoid paying £285 million in UK personal income tax, that would be payable if a UK resident owned the company.[12] In November 2005, Sir Philip approved a dividend payout that benefitted his family via Taveta/Tina Green by £1.2bn, paid for by a loan taken out by Arcadia, cutting Arcadia's corporation tax as interest charges on the loan were offset against profits.[13] The payout was the biggest annual dividend payout to an individual by a British company.[9]

Personal life

Green has been married twice. She met her first husband, Robert "Bobby" Palos, a South African jazz drummer, in Hong Kong when she was 17 and he was 31. They married a year later.[4] He subsequently became a retailer, and the marriage ended in divorce.[14] They had two children: artist and author Stasha Palos, and businessman Brett Palos.[15][16]

She is currently married to Philip Green. They have two children: Chloe, who released her own line of designer shoes under the Topshop brand in 2012,[17][18] and Brandon.

Relationship with Richard Caring

Tina Green has been linked to the controversial tycoon Richard Caring, owner of the Annabel's nightclub and close friend of her husband Philip Green.[19][20]

Leaked HSBC documents proved that Tina Green held under her name assets for Richard Caring, who according to The Guardian received "£93m in BHS dividends from Sir Philip Green", while he was also a major supplier of BHS.[21][22] Caring also secretly owned shares in BHS, through offshore companies, the press revealed.[23] In a formal investigation on Tina and Philip Green, Richard Caring "refused to reveal how much money he acquired from the sale of his significant stake in BHS in an open letter to the MPs investigating the collapse of the department store chain".[24][25] Tina Green was the ultimate owner of BHS when the scandal erupted.[26][27]

Tina Green can often be seen at the Annabel's.[28][29]

References
  1. "Persons with significant control". Companies House. Retrieved 28 September 2019.
  2. "Philip & Cristina Green". Forbes.com. 4 January 2016. Archived from the original on 7 January 2016.
  3. "Gouvernance - Fondation Princesse Charlene de Monaco". 26 December 2018. Archived from the original on 26 December 2018.
  4. Ruddick, Graham (8 July 2016). "Tina Green: Lady of leisure or 'blonde hurricane' of a formidable partnership?". The Guardian. Retrieved 8 July 2016.
  5. "Globe-trotting designer has eye for sophistication". archive.shine.cn. 27 September 2014. Retrieved 30 April 2020.
  6. Evans, Martin (30 April 2007). "At last, 10% of women crash into the rich list". Express.co.uk.
  7. "Virgin Media - Official Site". Virgin Media.
  8. Superyachts.com. "Green and Mingarelli Design on…". superyachts. Retrieved 30 April 2020.
  9. Henderson, Mark. "Sunday Times – Rich List". The Times. London.
  10. Financial Mail Woman's Forum: "Uncovered: Green’s empress of Arcadia" by Michael Gillard and Ben Lauran 23 March 2003
  11. Tayloy, Matthew (29 November 2010). "Philip Green to be target of corporate tax avoidance protest". Guardian Unlimited. London. Retrieved 30 November 2010.
  12. Mathiason, Nick (27 March 2005). "Where the rich stash their cash". The Observer. London. Retrieved 25 April 2009.
  13. "Analysis: The rich get richer in poor old Britain". Independent on Sunday. London. 19 March 2006. Retrieved 25 April 2009.
  14. Express UK: "HOW TO FEED YOUR MAN" By Julie Carpenter 17 November 2010
  15. PropertyWeek.com: "Philip Green's stepson in property debut" By Laura Chesters 13 March 2009
  16. Mychasuk, Emiliya; Terazono, Emiko (31 October 2007). "Plot thickens". Financial Times. Archived from the original on 19 March 2011. Retrieved 27 April 2016. Brett Palos is the son of the Monaco-based Lady Tina Green and first husband, the South African Robert Palos, from her previous life as a boutique owner in Johannesberg.
  17. The Independent: "The height of fashion: Chloe Green follows in her famous father's footsteps" by Harriet Walker 19 May 2012
  18. US Magazine: "Marc Anthony, 44, Gets Affectionate With New Model Girlfriend Chloe Green, 21, Goes to Disneyland With Twins: Pictures" By Justin Ravitz 28 February 2013
  19. Butler, Sarah (28 April 2016). "Tycoon Richard Caring received £93m in BHS dividends from Sir Philip Green". The Guardian. ISSN 0261-3077. Retrieved 3 May 2019.
  20. Shah, Oliver (8 May 2016). "How Richard Caring helped Green to find riches at BHS". The Sunday Times. ISSN 0956-1382. Retrieved 3 May 2019.
  21. Butler, Sarah (28 April 2016). "Tycoon Richard Caring received £93m in BHS dividends from Sir Philip Green". The Guardian. ISSN 0261-3077. Retrieved 3 May 2019.
  22. Leigh, David; Ball, James; Garside, Juliette; Pegg, David (9 February 2015). "HSBC files reveal mystery of Richard Caring and the £2m cash withdrawal". The Guardian. ISSN 0261-3077. Retrieved 3 May 2019.
  23. Leigh, David; Ball, James; Garside, Juliette; Pegg, David (9 February 2015). "HSBC files reveal mystery of Richard Caring and the £2m cash withdrawal". The Guardian. ISSN 0261-3077. Retrieved 3 May 2019.
  24. Jahshan, Elias (12 July 2016). "Millionaire Richard Caring and Arcardia chairman dragged into BHS investigation". Retail Gazette. Retrieved 3 May 2019.
  25. Armstrong, Ashley; Dean, Sam (15 June 2016). "BHS scandal: Lady Tina Green to be called to give evidence after Sir Philip promises to 'sort' pensions". The Telegraph. ISSN 0307-1235. Retrieved 3 May 2019.
  26. Butler, Sarah (23 May 2018). "Arcadia owner Tina Green was paid £25m by Taveta despite Topshop slump". The Guardian. ISSN 0261-3077. Retrieved 3 May 2019.
  27. "The BHS scandal... in 2 minutes". BBC News. Retrieved 3 May 2019.
  28. "Tina Green attends the launch of Kate Moss's new Top Shop 'Christmas..." Getty Images (in French). Retrieved 3 May 2019.
  29. Arlidge, John (30 May 2010). "Meet Richard Caring, the sultan of swank". The Sunday Times. ISSN 0956-1382. Retrieved 3 May 2019.
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