IS MILLIONAIRE.

Auckland Star, Volume LXVIII, Issue 140, 15 June 1937, Page 5

IS MILLIONAIRE.

WORKS HARD FOR SON.

RECEIVES £5 A WEEK.

SAVED FROM BOREDOM,

(Special.—By Air Mail.)

LONDON, May 22.

A millionaire who works for nine hours a day for a wage of £5 a week has arrived in London on "holiday with pay" from Australia. He is Mr. Michel Francois Albert, of Sydney. His employer is the largest music publisher south of the equator. And he is also son of Mr. Albert. Mr. Albert said to a reporter at the Savoy Hotel: "I made a million pounds, not by selling music but by deals in property. Then I discovered that any sum over ten thousand pounds was meaningless to me. It was intangible. I could only visualise it as a signature on a scrap of paper. Now anything under ten thousand pounds was a thing I could grasp. I could interpret it in terms of a house, a fleet of motor cars or aeroplanes. "There was a danger of life losing its zest for me. When Alexis, my son, married three years ago, I handed over my music business to him as a wedding present on condition he gave me a job for life. I refused to take more than £o a week wages. "He has offered me increases, but I have refused them. I still have my fortune, but always look forward to pay day. And I work hard for my £5 a week. Just before I left I was busy pushing the sales of 'Pennies from Heaven.'" Mr. Albert laughed happily as he went on: "My idea saved me boredom. I hope Alexis will follow my example when his son grows up." (

Studied Medicine. Not less interesting than his philosophy on wealth is the story of how Mr. Albert achieved it. He said: "My mother wanted me to be a doctor. I was keen, but after my second year in medicine my father, who kept a small music shop, said he needed my help. The next years were bitter to me. ! "I also had to help out our modest takings by giving music lessons. But, looking back, I see that father was absolutely right. "Our music business prospered, but I also became interested in property. I bought one building for £42,000. Offers of £200,000 have since been made for it, but I have found it even more profitable to let it."

When Mr. Albert entered his father's business a hundred pounds would have bought it.