HIS PROPERTY EMPIRE may have come crumbling down around him but Sean Dunne’s spending habits do not seem to have changed.
The Baron of Ballsbridge’s financial accounts were laid bare last week in court documents filed as part of his bankruptcy proceedings in the United States.
The Carlow-born developer left Ireland soon after the property bubble burst but still owes the taxpayer €185 million from development loans which were transferred to NAMA.
The married father of three claims in court filings that his monthly expenses total €16,600, including a €457 budget for clothes.
Dunne is also listed as a “project manager” for a company owned by his wife Gayle Killilea where he earns €6,352 a month. While he also brings home €17,000 a month from various property rentals.
Declaring himself bankrupt in America means the businessman will be debt free in two years as opposed to the 12 years it would take had he gone through the Irish courts.
Lets take a look at how the man behind the failed €57 million-an-acre Jury site now spends his money:
1. He owns a watch, wedding band and cuff links worth €5,700.
2. He’s a rugby fan with a ten-year season ticket for the Aviva Stadium. He is also paying €4,900 for premium seats in Twickenham and the Millennium Stadium.
3. He looks after his Mammy’s €690 Sky TV bill.
Dave Thompson/PA Wire/Press Association Images
4.The sharp-dressing tycoon still spends €457 a month on clothes and has a wardrobe worth €9,000.
5. He is holding on to a $1 million (€780,000) pension pot even if he is declared bankrupt. The pension from his construction company DCD Builders is not included in the bankruptcy proceedings and is only listed in court documents for “disclosure purposes”.
Pension Pot image via Shutterstock
6. But he only donates €76 a month to charity.
7. Property speculation is not the only slippery slope he's gone down - he owns €762 worth of ski gear and golf clubs.
8. There is still €7,600 worth of furnishings gathering dust in his former home on Shewsbury Road in Dublin 4.
Hat tip to Nama Wine Lake for the court documents.
To embed this post, copy the code below on your site
have your say