Bankruptcy, bad debts, and driving offences! How the fortunes of many millionaire investors from TV series Dragons Den, turned on a dime.
Self-made millionaire Newman had amassed a reputed fortune of some 50 million euros from the sale of her start-up internet company Need-a-hotel.ie . But some years after embarking on a relationship with the Irish hurler DJ Carey , Ms Newman suffered a dramatic reversal in fortune to the extent that in 2016 she declared bankruptcy following failure to repay mortgages taken on luxury Kildare homes.
Tech investor Newman, came to prominence in Ireland when she joined the Dragons Den for two series. The hit reality show propelled the then-unknown Ms Newman to national fame. Sarah Newman and DJ Carey. Pic: Michael Chester
But very soon after the cameras in Dragon's Den stopped rolling Newman's financial spiral began.
But Sarah Newman is not the only Dragon to, ahem, experienced a negative twists of fate after appearing on the RTE series. In fact, many of the business people who appeared on the shows didn't fare too well after production wrapped. Dragon's Den in 2008. Pic: Arthur Carron/Collins Photos
From ill-fated political bids, to high court actions, we take a look back at The Dragon's who entered the Den and came under fire after the show finished.
Property, pharmaceuticals and public relations, businessman Sean Gallagher's finances don't appear to have been affected. But his long-held political ambitions went up in a ball of flames when he put himself forward for the Presidency in 2018. Pic: RTE
In what has become known as 'Tweet Gate' Mr Gallagher's bid for the Áras was scuppered when a tweet read out by presenter Pat Kenny during the final televised debate of the campaign, erroneously said a man had claimed he had given a €5,000 cheque to Mr Gallagher and that the individual would appear at a press conference the next day.
In the aftermath of the debate debacle Mr Gallagher successfully sued RTE and was awarded €130,000 in damages. But the whole unseemly shenanigans put paid to his political ambitions. Sean Gallagher – Pic: Kinlan Photography
The same presidential election also saw a fellow Dragon in the form of Gavin Duffy come somewhat publicly unstuck. Launching his intention to run for the office of Presidency, a self-satisfied Duffy loftily proclaimed that he was clean as the proverbial whistle stating, 'I am saying here you will not find anything in my track record. I know in my business there never has been a tax issue, a bad debt issue, I have never been involved in litigation.' Gavin Duffy – Pic: Sam Boal/Photocall Ireland
In saying his record was clean, Duffy also referred to anything relating to his personal life. Turning to his wife at the launch, he said: 'A big consideration for us entering the race, was there anything in our personal lives that could embarrass our children? There is not.'
Then mere days later, the Irish Mail on Sunday reported on an accident Duffy was involved in back in 1978, when he was 18, in which a young woman sustained a serious injury. He had also incurred two further driving offences, the most recent from 25 years ago. The airing of Mr Duffy's dirty laundry was to prove a self-inflicted epic humiliation. Gavin Duffy – Pic: Leah Farrell/RollingNews.ie
In March of this year Blacktie businessman Niall O'Farrell became the latest TV entrepreneur to face money woes.
Former Dragon Niall, is the entrepreneur behind the now-shuttered Blacktie tuxedo rental chain, was hit with a judgement against him by the Revenue Commissioners to the tune of €450,365. Niall O'Farrell 4th from left – Pic: Collins Photos
O'Farrell, with an address on Anglesea Road in Ballsbridge, Dublin 4, became a familiar face to the wider public as a potential angel investor in the first four seasons of Dragon's Den on RTÉ.
O'Farrell has suffered various set-backs since his stint on the show including being forced to shutter his beloved business empire Blacktie back in 2013
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