Richard Caring: The Rise, Power, and Controversies of a British Businessman
From fashion supplier to “King of Mayfair” – Success, wealth, and challenges of Richard Caring
Introduction
Richard Caring is one of the most influential and talked-about British businessmen of the modern era. Known widely as the “King of Mayfair,” he has built a reputation that is both admired for its success and scrutinised for its controversies. With business ventures spanning fashion, real estate, restaurants, and elite clubs, Caring has created a powerful empire that combines glamour with high-stakes deals.
Behind the wealth and luxury, his story is one of resilience, ambition, and risk-taking. From humble beginnings in Finchley to becoming a billionaire hospitality mogul, Richard Caring’s journey shows both the opportunities and the complexities of business success. His story captures the fascinating balance of prestige and challenge that defines many leading entrepreneurs.
Quick Bio
| Attribute | Details |
|---|---|
| Full Name | Richard Allan Caring |
| Date of Birth | 4 June 1948 |
| Age | 77 (2025) |
| Birthplace | Finchley, London, UK |
| Nationality | British |
| Parents | Louis Caringi, Sylvia Parnes |
| Education | Millfield School |
| Spouse | Jacqueline Stead (div.), Patricia Mondinni (m. 2018) |
| Children | 6 (2 from first marriage, 4 from second) |
| Business Ventures | ICD, Caprice Holdings, Birley Group, Côte, Soho House |
| Net Worth | ~£1.005 billion |
Early Life and Background
Richard Allan Caring was born on 4 June 1948 in Finchley, London. He was raised in a family that valued hard work and resilience. His father, Louis Caringi, was an Italian-American GI who decided to remain in London after World War II, building a business in knitwear. His mother, Sylvia Parnes, was a Jewish nurse who came from an immigrant family.
As a young boy, Richard displayed talent in sports, especially golf, and played at a competitive level. His abilities earned him a scholarship to Millfield School in Somerset, where he was able to combine education with his sporting passion. Despite these opportunities, Caring decided to leave school at 16 and follow the family path in the clothing industry. This early decision would shape the rest of his professional journey.
Entry into Fashion and Business Growth
Leaving school at such a young age did not limit Caring’s potential. Instead, it allowed him to learn practical lessons in business. He initially joined his father’s company, but soon realised the opportunity of expanding into international markets. In the 1970s, he established International Clothing Designs (ICD), headquartered in Hong Kong.
ICD became one of the most important suppliers to the UK high street during the 1980s and 1990s. Marks & Spencer, Next, Mothercare, and Philip Green’s Arcadia Group all relied heavily on Caring’s operations. At its height, ICD supplied around 70% of clothes to British retailers. This positioned him as a key figure in the fashion supply chain and created the financial foundation for his later investments.
Expansion into Real Estate and Property
Caring used his fashion wealth to diversify into property and real estate. In 2004, he purchased a major stake in Camden Market, a London landmark, signalling his ambition in high-value investments. The same year, he bought Wentworth Golf Club for £130 million, a bold move that highlighted his love of sport combined with business.
His portfolio continued to expand with the acquisition of the former US Navy headquarters in Grosvenor Square in 2009. These moves demonstrated not only his willingness to invest in premium assets but also his ability to spot opportunities where culture, luxury, and profitability intersect.
Building a Hospitality Empire
The biggest transformation of Richard Caring’s career came when he entered the restaurant and hospitality industry. In 2005, he acquired Caprice Holdings, home to London’s most iconic restaurants such as The Ivy, Le Caprice, J Sheekey, and Daphne’s. This was a turning point, as he began shaping the future of fine dining in the UK.
Later acquisitions included Signature Restaurants (owners of Strada and Belgo) and the prestigious Birley Group, which controlled elite clubs like Annabel’s, Harry’s Bar, and Mark’s Club. Caring also co-founded Côte Restaurants in 2007, selling his share six years later for a major profit. His 80% stake in Soho House further cemented his influence in the world of private members’ clubs.
Through these acquisitions, Richard Caring created an empire that defined luxury dining and social exclusivity in Britain. His venues attracted royalty, celebrities, and politicians, making him one of the most powerful figures in London’s elite circles.
Career Highlights and Reputation
Richard Caring’s career highlights show a man who is both fearless and strategic. His ability to shift from clothing to real estate and finally dominate hospitality highlights his versatility as a businessman. He is often credited with turning The Ivy into a modern brand, expanding it into a nationwide chain while preserving its exclusive charm.
At the same time, his reputation has not been without controversy. He has been criticised for aggressive supplier negotiations, political donations across party lines, and connections with other controversial figures in British business. Despite this, his influence continues to grow, as his ventures remain profitable and widely recognised.
Net Worth and Wealth
Richard Caring’s estimated net worth stands at £1.005 billion, according to the Sunday Times Rich List. His wealth comes primarily from his investments in clothing, property, and hospitality. Known for his extravagant lifestyle, he has owned luxury properties and is often spotted at glamorous social events.
Wealth, however, has also brought attention and scrutiny. He has been labelled both as a “power broker” and a “controversial mogul.” Nevertheless, his fortune reflects decades of bold decision-making and the ability to thrive in different industries.
Philanthropy and Contributions
Caring has also made significant philanthropic contributions. After the 2004 Indian Ocean tsunami, he donated £1 million to aid relief efforts. He also organised a spectacular NSPCC charity ball in Russia that raised £11 million, reflecting his ability to use his influence for positive social impact.
Politically, he has contributed to both the Labour and Conservative parties, offering loans, auction prizes, and event sponsorships. While these contributions have sometimes attracted criticism, they reveal his position at the intersection of business and politics.
Latest News and Developments
In 2025, Richard Caring once again made headlines. His restaurant group came under criticism after suppliers were asked to provide a 2.5% “mandatory” discount, a move that created backlash. Caring later issued a public apology, stating that the approach was not aligned with his values.
At the same time, there are ongoing talks about selling a significant stake in The Ivy Collection, with reports valuing the deal at around £1 billion. Despite minor profit drops, the company continues to expand revenue, proving that his empire remains resilient.
Conclusion
Richard Caring’s story is one of bold ambition, extraordinary success, and inevitable controversy. From a teenage dropout in the clothing trade to a billionaire British businessman, his rise highlights the rewards of vision and courage. At the same time, his path illustrates the challenges of sustaining power in industries where reputation and relationships are as vital as profits.
As he continues to expand and reshape the hospitality scene, Caring remains one of the most influential figures in British business. Loved by some, questioned by others, his legacy is certain to leave a lasting mark on London’s social and business landscape.
FAQs
Q1: Who is Richard Caring?
Richard Caring is a British businessman and investor, known as the “King of Mayfair” for his dominance in luxury restaurants, clubs, and hospitality ventures.
Q2: What is Richard Caring’s net worth?
His net worth is estimated at around £1.005 billion.
Q3: Which companies does Richard Caring own?
He controls Caprice Holdings, The Birley Group, and has been involved in Côte Restaurants, Soho House, and the Ivy Collection.
Q4: What are his main sources of income?
His wealth comes from fashion supply (ICD), real estate, and hospitality ventures such as The Ivy and Annabel’s.
Q5: What is the latest news about Richard Caring?
In 2025, he apologised for a supplier discount demand controversy and is in advanced talks to sell part of his hospitality empire, reportedly valued near £1 billion.
