Martin Naughton Net Worth, Achievements & Personal Life

Martin Naughton Net Worth $2 Billion

Martin Naughton is a Knight of the British Empire (K.B.E.). He is an Irish-British businessman and engineer, and the founder of GlenDimplex, a renowned top-rated company specializing in electrical appliances.

He is a major shareholder and supervisory board chairman at the company as well. After studying mechanical and production engineering in Southampton, England, he spent more than a decade working as a plant manager and industrial engineer before deciding to establish a business in his own name.

In 1973, making use of the funds he had saved through years past, he founded the private, family-owned company which he called Glen Electric (now Glen Dimplex).

Today, GlenDimplex has 23 manufacturing facilities around the world, including in countries like the United States, China, New Zealand, Australia, Ireland, the United Kingdom, France, Germany, Holland, and Norway.

Mr. Naughton spent seven years serving as a member of the Irish Council of State and was the chairman of Intertrade Ireland until he resigned from the post.

He maintains a role on the Advisory Board of Citi Private Bank for Europe and the Middle East, serves as the Trustee Emeritus of the University of Notre Dame, in South Bend, Indiana, and is acknowledged as a recipient of honorary doctorate degrees from Coleraine and Griffith College, Dublin, Ulster University, University College, Dublin, Queen’s University, Belfast, Trinity College, Dublin, and the University of Notre Dame, United States.

Early Life: Childhood, Education

The businessman was born on 2 May 1940 in Dundalk, County Louth, Ireland. He studied mechanical and production engineering in Southampton, England. He is also an alumnus of the prestigious De La Salle College Dundalk, where he funds a scholarship program.

Martin donates to various educational institutions, notably the University of Notre Dame in Indiana, USA, and Trinity College in Dublin, Scotland.

Professional Life: Entrepreneurial Career

In the year 1973, Martin Naughton founded his first-ever business, Glen Electric, with a small manufacturing plant in Newry, County Down, Northern Ireland, employing just 10 people.

In 1977, Glen Electric acquired Dimplex, a leading brand in the United Kingdom’s electrical heating market. The acquisition led to the merging of both companies to form what became known as the Glen Dimplex Group.

The company set out to acquire more businesses across the United Kingdom, including Burco Dean Appliances, a maker of products for the catering industry, Blanella, a maker of electric blankets, and Morphy Richards, a popular market leader in small domestic appliances, all within 12 months.

Starting from 1990, the company forged its powers of acquisition and strategic business strategies to acquire further businesses in Europe and in other continents.

An engineer by profession, Mr. Naughton has led his company, GlenDimplex, to become the most successful manufacturer of domestic heating appliances in the world.

His company has plants in North America, the United Kingdom, and the Republic of Ireland. His business is said to have more than 8000 employees and 23 manufacturing plants with annual sales of over 1.6 billion dollars.

Mr. Naughton’s stake in the thriving company is worth more than £273 million with other investments including assets in Dublin, an art collection, and shares in the Sunday Tribune Newspaper and the Merrion Hotel Group.

Achievements: Awards & Honors

As a testament to his numerous contributions to business and also to educational endeavors, Mr. Naughton has received a number of respectable accolades in his life so far.

He has received honorary doctorates from Coleraine and Griffith College, Dublin, Ulster University, University College, Dublin, Queen’s University, Belfast, Trinity College, Dublin, and the University of Notre Dame, United States.

He was awarded the French Légion d’Honneur in 2016, and has also been appointed Knight of the British Empire by the government of the United Kingdom.

In 2016, the Community Foundation for Ireland presented Naughton and his wife Carmel the philanthropists of the year award for their charity works.

Two years afterward, Naughton received a Business for Peace Award from the Business for Peace Foundation in recognition of his efforts in promoting the contribution of the private sector to peace and environmental sustainability. In the same year, he received an Outstanding Contribution to Business Award at the Irish Post Awards 2018.

He was involved in negotiating cross-border trade and supported business promotions during the Northern Ireland conflict and was recognized for this.

Personal Life: Wife, Children, Private Interests

Naughton is married to Carmel Naughton. They have three children together and reside at his home in County Meath.

In 2016, his son Fergal Naughton became the chief executive officer of GlenDimplex.

Martin Naughton Net Worth: Salary, Assets, Income Sources

The Irish entrepreneur, Martin Naughton, is said to own net worth of over 2 billion dollars. His wealth has come from his investment in Dimplex in addition to other businesses which he expanded to become one of the biggest names in the business industry.

This proud father of three is the founder of GlenDimplex, a renowned enterprise that is specialized in electrical appliances. He is a major shareholder and supervisory board chairman at the company as well.