Desmond’s finest hour

Not since Jack traded his cow for some magic beans has there been an investment that grew so unexpectedly.

14th October, 2006

Not since Jack traded his cow for some magic beans has there been an investment that grew so unexpectedly.

Dermot Desmond is no man for fairytales, but that was not enough to prevent the billionaire financier from pulling off the most spectacular deal of his investment career last week, as he pocketed an estimated €1 billion from the sale of London City Airport, which he had bought for just €35 million 11 years ago.

Desmond’s finest...

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