Mind Gym founder Octavius Black saw more than £12million wiped off his fortune as shares in the firm crashed to a record low.
The staff training service plunged 37.8 per cent, or 21p, to 34.5p after it warned full-year profits would be ‘significantly lower’ than expected.
It came after revenues in the six months to the end of September fell to £21million from £26.8million in the same period a year ago.
Loss: Octavius Black and and his wife Joanne Cash (pictured) saw saw the value of their 55.6% stake crash by £11.7m to £19.2m.
The company said the ‘challenging’ economic backdrop has seen companies cut back training for staff.
The slump in shares cut the value of the 55.6 per cent stake held by Black and his wife Joanne Cash by £11.7million to £19.2million.
Black, a friend of former prime minister David Cameron since their days together at Eton, set up Mind Gym in 2000 with psychologist Dr Sebastian Bailey.
Since then, it has grown into a major consultancy that counts almost two-thirds of the Footsie’s members as clients.
Black remains chief executive while Cash, a libel barrister, is a non-executive director.
