Doug King’s life seemed fairly unremarkable until 2023. He was a successful businessman and owner of his own investment firm, but nothing overly extraordinary. Then, he joined the exclusive club of football club owners when he purchased Coventry City.
But what is the story behind Doug King’s rise to success and what is his net worth?
Who is Doug King?
Doug King was born in England in 1967.
He studied mathematical engineering at Loughborough University. Before embarking on a career trading commodities.
Between 1990 and 1997 he worked as a low-level trader in the UK for Cargill, the international global food corporation.
He moved to Switzerland in 1997 to become Cargill’s manager for crude oil and light products before being promoted to be the company’s global head of petroleum trading in 1999.
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In 2001 he joined Crown Resources as Head of Oil Trading before then moving to New York in the US to become a consultant for Catequil Asset Management in 2003.
After just one year in the job, Kind returned to the UK to co-found his own company: the Merchant Commodity Fund. The firm managed over $2 billion in assets at its peak and was eventually consumed as part of the RCMA Group, a physical commodity trading business that was acquired by King along with his business partner Mike Coleman in 2010.
Fast forward 13 years, and King’s business was so successful he managed to make a move many people can only dream of: owning his boyhood football club.
In January 2023, King became the proud owner of Championship side Coventry City.
At the beginning of the year he had purchased 85 per cent of the club before then acquiring the remaining 15 per cent just a few weeks later.
“I am honoured and excited to be taking this Club forward into its next chapter,” he said at the time.
“Already I have been struck by the enthusiasm of Sky Blues fans, with many personally wishing me well and I thank them for those sentiments.
“I am looking forward to the future of this great Club and what we can achieve together.”
Upon his 100 per cent take over, he made himself a fan favourite when he said: “The Club at this moment has no debt owed to me or any other party.
“All future funding of the Club via any loans will also not be interest bearing whilst I am the Owner.
“This then concludes the change of ownership story.
“I am now totally focused on the balance of the season and the future thereafter, and following through on our plans to take this great Club forward.”
An ambitious man, King has made clear his aim is to get Coventry City into the Premier League next year.
“I don’t want to stand still and I don’t think Coventry wants to stand still,” he said in a recent interview.
“I want to get us back and have a great atmosphere and feeling of a great football city remembering what it’s like to be a great footballing city.”
What is Doug King’s net worth?
Doug King is reported to have a net worth of $438 million.
His wealth largely all comes from his majority ownership of RCMA, which which controls a large portfolio of investments.
RCMA says online that is “a diversified group of businesses spanning supply chain, energy, and consumer goods and services”.