Stairlift tycoon takes £48m dividend
John Jakes, founder of a West Yorkshire-based stairlift company, has taken a £48.4m payout, marking continuing good fortune for the accessibility firm.
The Monaco-based entrepreneur, whose value was estimated at £822m in the Sunday Times Rich List, keeps a low profile, with a businessman close to Jakes describing him as a “very elusive guy”.
The payday follows Jakes’ £50.8m dividend in 2021, taking total payouts from Acorn Mobility to over £250m in the past ten years. Jakes retains a 100 per cent stake in the firm.
Jakes’ son, James, a racing driver, has been sponsored by Acorn in the past, when he competed in America’s IndyCar series. He is currently taking part in the GT world challenge europe sprint cup, competing for Comtoyou Racing.
Acorn’s revenue has risen by 4.2 per cent to £255.8m in the past year, including £38.6m in services. Acorn has subsidiaries in the United States, Canada, Australia, South Africa, and Europe. It employs 1,365 workers, 215 of these in production.
Jakes founded Acorn in 1992 as a stairlift repair company, but the firm soon began making the accessibility appliances themselves when used ones became difficult to source.
The entrepreneur has also held stakes in Dignity, one of Britain’s biggest funeral companies. Jakes is understood to no longer hold a stake in the firm, after it was bought out by a consortium in a £281m deal last year.