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Outrageous Fortune: The Rise and Ruin of Conrad and Lady Black
The rise and fall of media tycoon Conrad Black and his journalist wife, Barbara Amiel, is one of the great stories of the modern business world. In Outrageous Fortune , London-based journalist Tom Bower reveals how Conrad and Lady Black used other people's money to finance a billionaire's lifestyle, winning friends and influence in London and New York along the way. Their story of overweening ambition and greed is a modern-day classic of hubris. Born into considerable wealth in Canada, Conrad Black bought and sold (but never effectively managed) several businesses, from mining and tractors to broadcasting companies and newspapers. In 1985 Black's holding com-pany, Hollinger, bought the Telegraph Group, the British newspaper publishing conglomerate. In the years that followed, Black additionally became the proprietor of the Chicago Sun-Times , the Jerusalem Post , and a host of other magazines and newspapers in the English-speaking world. In 1992 Conrad married Barbara Amiel, who later famously said, "I have an extravagance that knows no bounds." Besotted by his wife, he began living way beyond his means. Fabulous parties, jewelry, clothes, and multiple mansions followed, and by 2001 Black had renounced his Canadian citizenship—which he called "an impediment to my progress in another more amenable jurisdiction"—in order to become a life peer in the British House of Lords. But the scheming deceptive duo's lies came crashing down when, in November 2003, an American report accused Black of "outright fraud," "ethical corruption," and "corporate kleptocracy." Black was forced out as Hollinger's chief executive, and two years later he was charged with eight counts of fraud—allegations that he will vigorously deny at his trial in Chicago, beginning in March of 2007. Based on hundreds of interviews with bankers, politicians, journalists, mega-deal makers, and close friends of Conrad and Lady Black, Outrageous Fortune is packed with lively anecdotes and salacious gossip. It is a hugely enter-taining and engrossing account of gullibility in high places.
448 pages, Hardcover
First published November 1, 2006
24 people are currently reading
113 people want to read
About the author
Tom Bower
57 books179 followersFor the author of works on child development, see T.G.R. Bower
Tom Bower (born 28 September 1946) is a British writer, noted for his investigative journalism and for his unauthorized biographies.
A former Panorama reporter, his books include unauthorised biographies of Tiny Rowland, Robert Maxwell, Mohamed Al-Fayed, Geoffrey Robinson, Gordon Brown and Richard Branson.
He won the 2003 William Hill Sports Book of the Year Award for Broken Dreams, an investigation into corruption in English football. His joint biography of Conrad Black and Barbara Amiel Conrad and Lady Black: Dancing on the Edge was published in November 2006, and an unsuccessful libel case over a passing mention of Daily Express proprietor Richard Desmond in the book was heard in July 2009.
An unauthorised biography by Bower of Richard Desmond, provisionally entitled Rough Trader, awaits publication. Bowers's biography of Simon Cowell, written with Cowell's co-operation, was published on 20 April, 2012.
Bower is married to Veronica Wadley, former editor of the London Evening Standard, and has four children.
Tom Bower (born 28 September 1946) is a British writer, noted for his investigative journalism and for his unauthorized biographies.
A former Panorama reporter, his books include unauthorised biographies of Tiny Rowland, Robert Maxwell, Mohamed Al-Fayed, Geoffrey Robinson, Gordon Brown and Richard Branson.
He won the 2003 William Hill Sports Book of the Year Award for Broken Dreams, an investigation into corruption in English football. His joint biography of Conrad Black and Barbara Amiel Conrad and Lady Black: Dancing on the Edge was published in November 2006, and an unsuccessful libel case over a passing mention of Daily Express proprietor Richard Desmond in the book was heard in July 2009.
An unauthorised biography by Bower of Richard Desmond, provisionally entitled Rough Trader, awaits publication. Bowers's biography of Simon Cowell, written with Cowell's co-operation, was published on 20 April, 2012.
Bower is married to Veronica Wadley, former editor of the London Evening Standard, and has four children.
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Displaying 1 - 7 of 7 reviews
December 6, 2017
WE have living here in Toronto The Good, in Canada, a convicted corporate felon, "Lord ('Tubby') Black and his gold-digging venomous wife, 'Lady', Barbara Amiel Black.. He is the corporate likeness of Hollywood's shameless Fatty Arbuckle, the obscene clown.
Tubby and wife lived the jet set lifestyle for a long while. They had amassed a fortune in the tens of millions. possibly even in the hundreds of millions. Two private jets. Four mansions, servants, Rolls Royces.
They got caught. All lost now, in their ghastly fall to disgrace, narrated masterfully by author Tom Bower. Tubby finally was caught out in his vicious game of corporate kleptocracy. Now the duo reside as renters in Tubby's daddy's Rosedale mansion. Gone are the private jets, mansions in London, Palm Beach, New York, and now even daddy's mansion ― all seized by the Law as partial payment toward Tubby's debt to shareholders of his companies whom he had ripped off so boldly.
Now the couple burnish a vicious hatred of author Bower for this voluminous book. And well the Blacks might despise Bower for this investigative revelation of the truth of their criminal lives! Bower writes masterfully about the countless swindles and treasury raids committed by Lord Black during the high-flying days of the shining, glorious Hollinger Inc. and various other subordinate corporate creations held and controlled ― and raped ― by Black. Tubby thought of himself as an international heroic newspaper tycoon because Hollinger at different times owned hundreds of newspapers all around the world. Even though Black's companies were publicly owned, he treated them like his own private piggy banks, there to spill wealth into his and Barbara's greedy hands! Lord and Lady Black had finessed swindle upon flimflam upon deception upon deceit against the company treasuries, enriching themselves shamelessly, leaving shareholders in distress and dismay.
Bower's writing is fast and incisive. A real page-turner. This book takes the narrative only to the conclusion of Tubby's criminal trial in a U.S. court. Black got multiple convictions for various felonies. The story stops short of sentencing, unfortunately. Nevertheless, even though we know about Black's ultimate time spent in jail and his hard-won freedom to live again in Canada ― without Canadian citizenship and at the mercy of immigration officials ― the story is a great one.
Tubby and wife lived the jet set lifestyle for a long while. They had amassed a fortune in the tens of millions. possibly even in the hundreds of millions. Two private jets. Four mansions, servants, Rolls Royces.
They got caught. All lost now, in their ghastly fall to disgrace, narrated masterfully by author Tom Bower. Tubby finally was caught out in his vicious game of corporate kleptocracy. Now the duo reside as renters in Tubby's daddy's Rosedale mansion. Gone are the private jets, mansions in London, Palm Beach, New York, and now even daddy's mansion ― all seized by the Law as partial payment toward Tubby's debt to shareholders of his companies whom he had ripped off so boldly.
Now the couple burnish a vicious hatred of author Bower for this voluminous book. And well the Blacks might despise Bower for this investigative revelation of the truth of their criminal lives! Bower writes masterfully about the countless swindles and treasury raids committed by Lord Black during the high-flying days of the shining, glorious Hollinger Inc. and various other subordinate corporate creations held and controlled ― and raped ― by Black. Tubby thought of himself as an international heroic newspaper tycoon because Hollinger at different times owned hundreds of newspapers all around the world. Even though Black's companies were publicly owned, he treated them like his own private piggy banks, there to spill wealth into his and Barbara's greedy hands! Lord and Lady Black had finessed swindle upon flimflam upon deception upon deceit against the company treasuries, enriching themselves shamelessly, leaving shareholders in distress and dismay.
Bower's writing is fast and incisive. A real page-turner. This book takes the narrative only to the conclusion of Tubby's criminal trial in a U.S. court. Black got multiple convictions for various felonies. The story stops short of sentencing, unfortunately. Nevertheless, even though we know about Black's ultimate time spent in jail and his hard-won freedom to live again in Canada ― without Canadian citizenship and at the mercy of immigration officials ― the story is a great one.
November 24, 2014
A fine biography of an interesting pair (euphemistically so).
November 22, 2020
Having read Barbara Amiels version of events first I then turned to Tom Bowers to get a bit of balance. As you might expect the 2 versions represent extreme positions on the see saw.
If we are to believe Bower Black is a megalomaniac who having once found a way to silt large amounts of tax free cash from his business ( the so called non compete clauses ) pursued this strategy relentlessly and brazenly in defiance of the law and the increasing concern of work colleagues and shareholders.
Blacks dilemma was - how to spend money that is in the business without having to pay tax on it : the difference though is Black only owns 18 pct of Hollinger so really has no right to extract the sums we are talking about - one figure mentioned is circa 74 percent of the net income of the business over a 5 year period . If true that really is quite shocking .
So why did he do it ? He had a great business. He was owner of the Telegraph and many other American newspapers .
My view is that “his feet left the ground “. He was so impressed by the Billionaire set and he so badly wanted to be one of them (they thought maybe he was ) that he lost all sense of proportion and reality where money was concerned . He forgot that to make money you have to make sure income outweighs expenditure . His wife no doubt puffed up his sense of himself . Moreover his was a personality which responded eagerly to flattery and thoughts of world domination. He leapt wholeheartedly from the solid ground up up up and then down into the abyss .
Truly this is a story of Hubris . Black deserved to be cut down to size and he was.
Of all the things in the book that struck me - the most telling was Blacks lack of family loyalty. He misssed his brothers 60th ( the saddest party i ever attended sais his first wife ) and at no point does it appear he was trying to build a dynasty for his children. It was all about Conrad Black
If we are to believe Bower Black is a megalomaniac who having once found a way to silt large amounts of tax free cash from his business ( the so called non compete clauses ) pursued this strategy relentlessly and brazenly in defiance of the law and the increasing concern of work colleagues and shareholders.
Blacks dilemma was - how to spend money that is in the business without having to pay tax on it : the difference though is Black only owns 18 pct of Hollinger so really has no right to extract the sums we are talking about - one figure mentioned is circa 74 percent of the net income of the business over a 5 year period . If true that really is quite shocking .
So why did he do it ? He had a great business. He was owner of the Telegraph and many other American newspapers .
My view is that “his feet left the ground “. He was so impressed by the Billionaire set and he so badly wanted to be one of them (they thought maybe he was ) that he lost all sense of proportion and reality where money was concerned . He forgot that to make money you have to make sure income outweighs expenditure . His wife no doubt puffed up his sense of himself . Moreover his was a personality which responded eagerly to flattery and thoughts of world domination. He leapt wholeheartedly from the solid ground up up up and then down into the abyss .
Truly this is a story of Hubris . Black deserved to be cut down to size and he was.
Of all the things in the book that struck me - the most telling was Blacks lack of family loyalty. He misssed his brothers 60th ( the saddest party i ever attended sais his first wife ) and at no point does it appear he was trying to build a dynasty for his children. It was all about Conrad Black
March 5, 2019
Fascinating story about a bumptious egotist and his poisonous, social-climbing, greedy wife.
March 18, 2009
Not the best writing or editing in the world, but a jaw-dropping tale of unbridled greed.
April 13, 2015
Good book. Interesting subject if a bit dated now. Very good author and will definitely read more of his work.
Want to read
October 14, 2010I started this but have not finished. Will get around to it.
Displaying 1 - 7 of 7 reviews