David, Victoria Beckham Pocketed 8.1 Million Pounds in 2020 Dividends
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LONDON — David Beckham’s businesses pushed through the pandemic in 2020, generating profit, and rich dividends, despite revenue declines in a challenging environment.
According to the latest filings on Companies House, the official register of U.K. businesses, revenues at Beckham’s main company, David Beckham Ventures Ltd., dipped 10 percent to 11.4 million pounds compared with the previous year.
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Although revenue was down, profits rose 18 percent to 10.6 million pounds, bolstered by 6.2 million pounds in investment income from a share of profits in Seven Global LLP.
Seven Global is Beckham’s global brand management business, of which he took full ownership in July 2021.
During the year to Dec. 31, 2020, Beckham also signed new multimillion-pound sponsorship deals with companies including the video game company Electronic Arts; the Italian comic book and trading cards company Panini, and the fitness firm F45. They joined an existing portfolio that includes Haig Club whiskey, Adidas and Tudor watches.
Revenue at Seven Global, which oversees Beckham’s deals with Coty and Safilo eyewear, was $23.2 million in 2020, broadly flat compared with the prior year.
Despite the flat revenue, profit doubled to $18.1 million due to lower administration expenses, the company said.
There has been much change at brand Beckham since 2020, however.
Earlier this year Authentic Brands Group purchased a 55 percent stake in David Beckham Ventures Ltd., paying about $270 million, according to media reports.
Seven Global had previously been a joint venture between David Beckham Ventures Ltd., and Global Brands Group. Last year GBG, which was ultimately owned by China’s struggling Shandong Ruyi, wound down its operations.
In connection with the new partnership, Beckham also became a shareholder in ABG, which has a growing entertainment roster that includes brands such as Muhammad Ali, Shaquille O’Neal and Sports Illustrated. ABG also took control of Reebok earlier this year.
The Seven Global JV with GBG previously oversaw the men’s contemporary clothing brand Kent & Curwen. Designed by Daniel Kearns and fronted by Beckham, the brand used to show during London Men’s Fashion Week. Today it operates mainly in China and Beckham no longer has any connection to the brand.
In addition to David Beckham Ventures Ltd. and Seven Global, the former England football captain has another company on the books, Beckham Brand Holdings Ltd. That is the holding company that owns businesses belonging to David and his wife Victoria Beckham.
The holding saw its profit more than double to 11.6 million pounds, despite a revenue decline at Victoria Beckham’s fashion business in fiscal 2020.
The uptick in overall profit meant that shareholders David and Victoria Beckham took home a total dividend of 8.1 million pounds.
As reported in May, the couple was ranked at 65 on The Giving List, which was compiled by The Sunday Times of London as part of the newspaper’s annual Rich List. The Beckhams made a 1 million pound donation to Ukraine following Russian President Vladimir Putin’s invasion of the country earlier this year.
The Beckhams’ wealth was estimated at 425 million pounds by The Sunday Times. They did not make it into the top 250 ranking on the Sunday Times list, although their wealth exceeds that of fellow celebrities including Elton John, Sting, Mick Jagger, all of whose fortunes are less than 400 million pounds.
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