Chronicling the boom and bust pays off for David McWilliams

Efforts by celebrity economist David McWilliams at exploiting his brand are paying off, with accumulated profits at his media firm last year jumping by over €20,000 to €629,846.

Chronicling the boom and bust pays off for David McWilliams

A chronicler of Ireland’s boom and bust, Mr McWilliams is a regular voice on TV and radio shows.

New figures for his Iconic Media Ltd show that the firm’s accumulated profits increased from €609,778 to €629,846 in the 12 months to the end of March 31.

The firm’s financial assets totalled €1.16m at the end of firm’s financial year.

The increase in profits last year is more than three times the increase in profits in the prior year when profits climbed by €6,426.

However, the jump in profits in fiscal 2014 and 2013 are a small percentage of the €211,031 jump in accumulated profits in 2012.

Mr McWilliams, who appeared at the Oireachtas banking inquiry last week, generates his income from his writings, including regular columns at two national newspapers and speaking engagements around the world where he counts Google and Sony amongst his clients.

Through his website, the Trinity graduate offers an online 16 lecture economics course ‘Economy without Boundaries’ that costs participants €217.

The author also generates income from providing a daily guide to understanding the global economy where those interested in his thoughts on the economic issues of the day can sign up for a daily post.

Iconic Media was incorporated in 1999 and Mr McWilliams’s wife, Sian Smyth also serves as a director on the firm.

The figures show that the firm owed corporation tax of €55,195 at the end of March indicating a strong level of business for the year.

A former economist at the Central Bank, Mr McWilliams came to wide public notice concerning his repeated warnings over the growing housing bubble.

Mr McWilliams’s first book, The Pope’s Children was the best selling non-fiction book in Ireland in 2006. He followed it with The Generation Game in 2007, with Follow The Money completing the trilogy in 2009.

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