Record label executive, founder and chairman of the Beggars Group, Martin Mills has an estimated net worth of $160 million (£102m) as of 2015, according to the Sunday Times Rich List. Born on 12 May 1949 and grew up in Buckinghamshire and Oxfordshire. He attended Magdalen College School and Oriel College, Oxford where he earned a degree in Philosophy, Politics and Economics. Mills built Beggars Group into one of the most successful independent record labels in the United Kingdom. The company started as record shop in 1974 before expanding into the Beggars Banquet record label in 1977. The group has a 50% stake in XL Records which was founded by producer Richard Russell. Beggars Group’s labels include 4AD, Rough Trade Records, XL Recordings and Matador Records. XL Recordings’ artists include Adele and FKA twigs. The label’s fortunes really took off after the signing of Adele. Per Sunday Times report, the company made £5.7m profit on £25.6m sales in 2013. Beggars Group, owned by Mills is worth £90m. He has homes in Richmond upon Thames and France. In 2011 Mills was ranked #22 on The Guardian’s inaugural Music Power 100 list.