Background
He comes from an Anglo-Irish family, and is the son of the late Brigadier Bill Magan, who served as a director at MI5.
He comes from an Anglo-Irish family, and is the son of the late Brigadier Bill Magan, who served as a director at MI5.
He was educated at Winchester College and then became a Chartered Accountant.
Magan has been the Conservative Party"s Treasurer since 2003 and is the Deputy Chairman of the Conservative Foundation. The Sunday Times Rich List conservatively estimates his Netto worth to be at £60 million. However it was stated that Magan made more than £20m when he agreed to a takeover of Hambro Magan by Natwest Markets, in 1995.
At the height of the bull market, he was worth up to £200m.
Magan also serves on a number of international boards which include the Advisory Board for Ardian (formerly AXA Investment Managers Private Equity), the Advisory Board for Abdul Latif Jameel Group (automotive distributor and real estate company, Jeddah, Saudi Arabia) and as a Financial Adviser for Emaar Properties PJSC (real estate development company, Dubai). Magan is also a Director of Emuse Technologies, Synergy Insurance Holdings and the Sisk Group.
Magan is involved in raising funds for the National Society for the Prevention of Cruelty to Children and from 1996 to 2001, he was a trustee of the Royal Opera House. On 25 January 2011, he was created a life peer as Baron Magan of Castletown, of Kensington in the Royal Borough of Kensington and Chelsea, and he was introduced in the on 27 January 2011, where he sits as a Conservative.