Simon Arora
Simon Arora | |
|---|---|
| Born | Template:Birth year and age United Kingdom |
| Occupation(s) | Entrepreneur, Business executive |
| Years active | 1990s–present |
| Known for | Former CEO of B&M |
Simon Arora (born November 1969) is a British billionaire entrepreneur and the former chief executive officer of the retail company B&M.
Early life
Arora was born to Indian immigrants who moved from Delhi during the 1960s. He pursued legal studies at Cambridge University and gained initial business exposure through working at his father's cash and carry enterprise.
Career
Simon Arora launched his professional journey as an analyst with firms such as McKinsey & Company, 3i, and Barclays. In 1995, he joined forces with his brother Bobby Arora to import household goods from Asia for distribution to UK retailers. The brothers took ownership of B&M in 2004, at a time when it was a struggling grocery chain headquartered in Blackpool.
In 2017, Simon and Bobby liquidated £215 million by selling a 25% stake in B&M, three years after the company’s initial public offering. By May 2019, the combined wealth of the Arora siblings—Simon, Bobby, and Robin—was estimated at £2.26 billion.
After serving as CEO for 17 years, Simon Arora resigned from this role in September 2022 but continues to serve as an executive director at B&M.
Covid-19 rates relief
During the COVID-19 pandemic in the United Kingdom in March 2020, Chancellor Rishi Sunak implemented business rates relief and furlough schemes aimed at supporting the hospitality and retail industries. Classified as an 'essential retailer,' B&M remained operational while many non-essential businesses were forced to close.
In November 2020, B&M attracted criticism for retaining £38 million in business rates relief alongside £3.7 million in furlough payments, despite reporting record profits of £296 million and declaring a special dividend of £250 million. The Arora brothers, who owned 15% of shares valued at over £750 million, received £37 million from this dividend. Following public backlash, B&M agreed to return £80 million of business rates relief, a decision mirrored by large supermarket chains including Tesco, Sainsbury's, and Morrisons.
Personal life
Simon Arora is married to Shalni Arora, a Cambridge graduate in Natural Sciences and co-founder of biotech company DxS. Together they have two daughters.
He lives in Hale Barns, near Altrincham, adjacent to his brother Bobby. Additionally, he owns three apartments located at 3–10 Grosvenor Crescent, a Grade II* listed terrace in London's affluent Belgravia district. In 2017, he was involved in a legal dispute concerning concierge services at this property.
In early 2020, Arora contributed £50,000 to the Conservative Party.