Best of Bernie

F1 Supremo, Bernie Ecclestone, is one of the world’s most successful businessmen. Pioneering the sale of the sport’s television rights in the 1970s, the diminutive star has managed to steer Formula One from a flagging brand into a global phenomenon.

Thanks to his unrivalled determination — together with Max Mosley, president of the FIA — F1 regularly pulls in television audiences of 350 million and is one of the world’s most lucrative sports generating $3.9bn annually — nearly $1bn more than football and topped only by America’s NFL and MLB.

His success and the sport’s global appeal regularly means Ecclestone is ranked alongside some of the world’s wealthiest businessmen. Last year, the Sunday Times listed him 24th in its annual Rich List with an estimated fortune of £1.466bn ($2.37bn).

Not that it’s all been an easy ride. The global recession coupled with the recent lifetime ban of the former Renault boss, Flavio Briatore, and reports of a breakaway F1 team are just a few of the problems he’s faced in recent months.

Clearly though Ecclestone knows how to ride the storm, setting in motion a global expansion plan, which he insists will continue despite the downturn. Abu Dhabi obviously agrees with him. In 2007, it paid a reported $60m to host the event, which it will host for the first time this month.

Not a bad achievement for someone who left school at the tender age of 16.

Claire Ferris-Lay is the deputy editor of CEO Middle East English.

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