ANOTHER YOUNG MILLIONAIRE

Dominic McVey - picured here in 2001, aged 16 - was a millionaire before he left school (Image © Yui Mok/PA)Dominic McVey's rise to success began in 2000 when he was just 15, he’s now worth an impressive £7 million. While his classmates were climbing trees and doing their homework, McVey had spotted an opportunity to cash in on the latest craze that had already proved a hit in the US.

While searching for credit card Visa on the internet, McVey mis-spelt it and came across Viza collapsible micro-scooters that were being sold in the US. Determined to get one but unable to afford it, he asked the company to give him one for free as he was sure he could sell the scooters in the UK. It refused initially but then said if he bought five it would give him one scooter for free.

From that point on there was no stopping him. He raised the cash to buy five scooters by organising under-18s discos, trading in stocks and shares using his dad’s credit card and selling mini disc players in Japan.

He easily flogged the five scooters to friends and family, the next week he sold 10. Winning the European distribution rights for the scooters meant that two years later he’d sold 11 million units and the import business – which has seen grown men commute to work on the scooters – had made him a millionaire.

By the age of 18 he’d been appointed “As a Pioneer for Britain in Entrepreneurism” by the Queen. And now, still only 27, his business portfolio includes property, cosmetics, pharmaceuticals and publishing and sees him ranked along chart-topping pop stars and lottery winners on the latest ‘Rich List’.