The Rise Of Felix Dennis

I’m starting a new blog concept called “The Rise Of..” where I go on a trip down memory lane and investigate how some old-school entrepreneurs rose to fortunes.

So, why bother doing this?

Because modern-day business is much easier. And for a lack of a better word, weaker. Most things are automated. And we demand more of it. Going down memory lane, one can uncover some of the manual lengths these old school entrepreneurs had to undertake in order to make their millions.

And so, here is part #1 of The Rise Of, a series of the UK’s most successful, no-nonsense business people.

Part #1 is on Felix Dennis, the founder of Dennis Publishing, one of the richest media proprietors in UK history. Dennis Publishing produced magazines like Maxim, The Week, PC Pro, and Carbuyer. Although Dennis passed away in 2014, Dennis Publishing lived on until it was sold to Future plc in August 2021.

If you want to know more details, check out Dennis’s book “How To Get Rich”. The title is awful, and it’s not a get rich quick scheme. If anything, Dennis describes why you shouldn’t go into entrepreneurship.?

Dennis is the ultimate self-made millionaire, racking up a net worth of around ￡750m in the late 1990s. He was different to a normal business person. He was a hippy, implemented quirky business tactics, treated competitors like friends and often helped his staff set up their own business ventures.

Felix Dennis was born on 27 May 1947 in Kingston-upon-Thames, South London. His dad was a part-time pianist, and tobacco store shopkeeper. He grew up in a home with no electricity or running water. His dad later emigrated to Australia, leaving Dennis and his mother to survive.

Because her husband left, Dorothy Dennis, Felix’s mum, went to night school, eventually becoming a chartered accountant, helping her family go from slums to middle-class.

Mrs Dennis later remarried and carved out a happier life. Although her new husband was a gentle giant and charming man, Felix was no longer the only alpha male in the house. So, he moved out.

Dennis moved to a bedsit in Harrow, Northwest London. He played in a band & worked in department stores to help pay the rent.

It was around this time that Dennis began to adopt his love for art & creativity. He adopted a different view of the world. He imagined a more open society and believed people wanted to read about counterculture. Different to the norm.

In the late 60s, he began selling copies of Oz Magazine on King's Road, Chelsea, London. Making up to ￡30/day, equal to ￡580 in today’s money.

-Felix Dennis, holding a copy of Oz Magazine.

Gaining street cred from his sales skills, Dennis landed a job in the art department at Oz Magazine. After serving his time in the art department, in 1969, Dennis wrote an exclusive global article reviewing Led Zepplin’s debut album. He went on to write many pieces like this, interviewing badass people and creating new standards for other journalists to follow.

Dennis was later promoted to co-editor of Oz Magazine.

-James Anderson, Felix Dennis, and Richard Neville. The three editors of the Oz magazine.

In 1971, Dennis, James Anderson, and Richard Neville were involved in one of the biggest trials in the history of British media. One of their teen magazines featured sexually explicit content. Content that was severely frowned upon at the time.

Standing trial at the Old Bailey. The editors were sentenced to up to 15 months in prison for the actions. Dennis got a more lenient deal from the court as he was deemed “less intelligent”. Their crimes were later quashed by Lord Widgery on the grounds that all editors would give up working for Oz Magazine.

After being acquitted of his crimes, Dennis struggled financially, often not being able to pay his rent or put food on the table.?

However, he began plotting his way back into the media world.?

In 1973, Dennis Publishing was born.

Dennis negotiated hard to round up good deals with printing firms, newsagents and advertisers to help him launch his publishing company. He believed that money was like any other problem and that clever negotiating skills could enable him to get cash upfront to help print his publications.

Dennis Publishing’s first magazine was titled “Kung Fu Monthly”, covering every aspect of Bruce Lee’s career. Dennis and his journalists often travelled to Hong Kong to meet with Bruce Lee and his colleagues to gain different insights into the martial artist’s extraordinary life.?

Then, Dennis got a “huge stroke of luck.” Bruce Lee DIED suddenly.

And the whole world got even more obsessed with the movie star.?

Dennis went from ￡0 to ￡60,000 in the bank in the space of a year, which amounts to ￡772,000 in today’s money. Not bad for a bootstrapped little publisher.

Dennis Publishing was up and running.

Dennis went on to publish Personal Computer World and MacUser.

Felix was now in the big leagues. Launching publications in countries all over the world. His publications branched into merchandise, events, and toys. Taking a leaf out of Walt Disney’s book.

During the 80s he, along with Peter Godfrey and Bob Bartner co-founded MicroWarehouse, a company that pioneered direct IT marketing via high-quality magazines. The company eventually went public on the NASDAQ in 1992, reaching a market cap of around $3bn and employing nearly 4000 people.

Dennis stated in his books how much he hated public company life. He felt that his freedom and creativity were taken away from him during this time. It was no surprise that MicroWarehouse went back into the private market again some years later.

During the 1990s, Dennis became addicted to crack cocaine. Dennis himself estimates that he spent nearly ￡100 million on crack cocaine and prostitutes throughout this time.

He continued to build his company during this time. But things came to head in 1997. Dennis told The Guardian:

"I was doing so much wenching, drinking and taking drugs, that there was no time to sleep. I never really slept for five years. I was just too busy building up the company and spending $2.5m on crack cocaine. But, you crash and burn in the end. That's the nature of it."

“One day, I was walking around the house with a hammer thinking to myself: 'When that bastard comes through that skylight, I'm going to give him such a whack…' Then I caught myself in a mirror and I thought: Bastard? Skylight? There is no bastard. There is no skylight. And why am I walking around with this hammer? I was in deep trouble, but I did what I always do," he says, still giggling. "I didn't seek help. I just closed the door and came off myself. Pure cold turkey.”

Dennis was somehow still able to produce best-selling magazines like Maxim, The Week, and Blender. Crazy stuff!!

Dennis was known for his eccentric nature. He would often call competitors if he heard one of their clients was going bust, telling them “get paid fast”.

Towards the end of the 90s/early-00s, Dennis stepped back from daily operations at Dennis Publishing. However, he still had an active role in his company's vision and owned 80% + of the shares. He was a massive believer in owning most or all of his company's shares.?

“To become rich you must be an owner. And you must try to own it all. You must strive with every fibre of your being while recognising the idiocy of your behaviour, to own and retain control of as near to 100% of any company as you can.” - Felix Dennis, How To Get Rich.

After his business success, Felix began writing poetry and books. He performed his poems on live TV, on radio and in theatres throughout the UK.

A lover of wine, Felix wrote about its impact on his life and released A Glass Half Full which was performed in theatres throughout the country. Felix offered fine French wine from his personal cellar to the audience while watching him perform his poetry on stage.

Apart from the wine, he wrote business books such as How To Get Rich and 88 The Narrow Road. Worth a read by the way!!?

Dennis founded a charity called The Heart of England Forest. In excess of 1,000,000 saplings have been planted to date.?

Felix Dennis died of throat cancer in June 2014.?

He was estimated to be worth ￡750m around the time of his death. He donated everything, including Dennis Publishing to The Heart of England Forest - Later sold back to Future plc.

There you have it, folks. Felix Dennis.