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Battle over Soho king's £650m will
Valentine Low, Evening Standard3 Mar 2008
Soho porn king Paul Raymond has died at the age of 82 - paving the way for a battle over his estimated £650million fortune.
A family friend confirmed today that he died yesterday after being dogged by ill health. In recent years he had lived as a recluse in a flat next to the Ritz Hotel.
Mark Fuller, owner of The Embassy nightclub in Mayfair, said: "Paul was a great mentor of mine. He will be sadly missed."
Mr Raymond's wealth includes property in Soho, Notting Hill and Hampstead and the remains of his topshelf magazine empire.
Born Geoffrey Quinn in Liverpool, he built up his business from nothing after opening the Raymond Revue Bar in 1958. He once said: "There will always be sex - always."
He leaves two sons, one estranged and the other a playboy who had little to do with the business. He is believed to have left much of his fortune to his granddaughters Fawn and India Rose. Their mother, his daughter Debbie, died of a drink and drugs overdose in 1992 aged 36.
The other beneficiary is expected to be Mark Quinn, the secretive nephew he appointed to run the business in favour of his son, Howard.
Howard has his own property business which is run from offices in Fulham. He was once hit with a £31,000 bill for unpaid tax.
The other son, Derry McCarthy, born to the woman in a stage show which started Mr Raymond's showbusiness career, lives in Manchester and only saw his father twice.
The Raymond Revue Bar was the first strip club in the country to have a nude dancing licence. He also owned magazines including Men Only, Escort and Razzle.
The sex business dwindled and the bar was sold, while the porn magazines saw sales slump in the face of internet competition.
But Mr Raymond's company continued to make money, having invested heavily in Soho property and owning other buildings in prime London locations. In 2006 he paid himself a dividend of £15million and last year the firm reported profits of £1.7 million.
Reader views (2)
So another rich guy pops it. So what? Is anyone going to starve to death? No. Is someone going to die trying to get this money? Yes.
- Monica Browne, Surrey, 03/03/2008 16:16
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Clever man! Good for him!
- A.Winsley, London. England, 03/03/2008 15:13
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