When you need a job but nobody will hire you, you can always hire yourself.
However, for most people that does not work out as well as it has for Sanjay Shah.
After losing his job as an accountant with an investment bank in the 2009 economic crisis, Sanjay Shah looked around at the financial carnage and saw few jobs he might qualify for, but lots of opportunities to profit. He started Solo Capital Markets as a brokerage firm.
In an interview with Global Citizen Magazine, Shah said he started out studying medicine, but then decided he didn’t want to be a doctor after all. Therefore, he became an accountant. He worked for such investment banks as Merrill Lynch, Credit Suisse and Morgan Stanley.
Shah grew Solo Capital until, for the year ending March 2011, Shah earned £19 million. He incorporated it in September 2011. Its specialties now include proprietary trading (foreign exchange, commodities and derivatives), consulting (investment, performance and human capital) and investments in professional sports teams (talent acquisition, commercial advisory & representation, asset & performance management).
Solo Capital Markets is an operating name for Outperform Capital Ltd, a private limited company registered in England and Wales, registration number 09579559. As of March 2015, Solo Capital Partners had a net worth of £15.45 million.
Shah has continued to expand his business empire. He is the founder and CEO of Solo Group Holdings, which controls Solo Capital Markets. Shah also owns Aesa S.a.r.l., which controls Solo Group Holdings. Shah also owns 36 other companies in Great Britain, Dubai the British Virgin Islands, Malta, Luxembourg and The Cayman Islands. In 2014 Shah and Solo Capital took over Old Park Lane Capital, the natural resources stockbroker.
Earlier that year, Mankash Jain left Solo Capital to work in Dubai with Shah. He was head of foreign exchange at Solo Capital Partners.
As of January 2016, Shah’s net worth amounts to US$280 million, and he considers himself retired.
However, work for Shah remains. He told Global Citizen Magazine he had sponsored children in India for ten years, and never thought he could do anything more for charity than that. In 2011, doctors diagnosed Shah’s 4-year-old son with autism. While drinking tea with Snoop Dogg, Shah realized he could raise both awareness of the neurodevelopmental disease and money to fund additional research by throwing benefit concerts. Therefore, Sanjay Shah founded Autism Rocks. They held the first Autism Rocks concert in 2014 starring Prince. Later concerts have included Drake, Lenny Kravitz, Michael Bublè and Snoop Dogg.
In June 2015, Shah paid $100,000 for the domain name Autism.Rocks. Since January 2013 Shah has served as a trust director of Autism Research Trust, which donates to Cambridge University’s Autism Research Centre.
Just think. Without the financial crisis, Shah might still be an accountant.