| Staff at the Telegraph can relax a little. Desmond, 52, has abandoned plans for a takeover bid. In 2000 he bought the Express group for £125m where the axe soon fell in a cost-cutting drive. His publishing interests are now worth £385m. He recently sold his adult magazines for £20m, but kept the Fantasy Channel. He owns the new £80m Express HQ and a half share, with the Telegraph, in Westferry, an £80m London printer. London homes worth £6m and £18m, a £10m pad in Spain and £100m savings take his wealth to £700m.
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2003: £425m
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