‘Barack Obama saved my life’: Kingswood entrepreneur opens up about contemplating suicide and how he became a multi-millionaire

January 13, 2019
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A Kingswood entrepreneur who almost took his own life due to the loss of his business, has gone on to create a £5 million turnover business thanks to a Barack Obama television rally.

Reginald Larry-Cole, 48, from Forest Drive, was hit harder than most when the banks froze in 2008 – two years after the birth of his first daughter, Regan.

In the short space of just eight months, he bravely admits he was on the verge of taking his own life following the collapse of his business and his marriage.

“It was between September and December and I just thought I’m going to end this misery because I was tired of not being able to fall asleep and I couldn’t provide for my children,” he said.

The banking collapse cost him his successful car financing business that he had built up since 2003, and, as he dealt with unemployment for the first time since he left home aged 16, then, ultimately, his marriage.

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He said: “I remember it was April 15, 2008, and we were just celebrating my daughter getting out of hospital and my business development manager rang me in tears saying they’d all been made redundant.

“From that day we lost £500,000 a month of revenue. We closed the doors that Christmas Eve.

“I’ve never been broke or had to borrow money to survive. I changed as a person because for the first time in my life I felt that I lacked security and that I’d failed as a father. My baby was there and I’m on £64 a week.”

During this time his now ex-wife left him and took their two children with her, telling him that he wasn’t himself any more as he obsessed over how he could support his family and himself. For Reg, this was the biggest blow.

Reginald Larry-Cole, 48, from Kingswood has gone from being suicidal to a millionaire businessman
(Image: Grant Melton)

“She said I was a different man. I was always stressed trying to figure out how to get out of this. My credit took a battering so I effectively had a six year financial sentence before I could take any business loans in the future. It’s not just the loss of material things.”

However, Reg said his life changed when he became inspired after watching a US Democrat rally that was being broadcast on television in the early hours of the morning.

“I was at home with pills by my bed watching television at 3am around the time that the Democrats were starting their rallies. I heard [Barack]Obama speak and I was so inspired I went out the next day and found his books and read them diligently like a study book.

“I had no hope but his charisma and story gave me hope. It was the beginning to start moving me in the right direction of thought.

“Here was this man who barely knew his dad like me, slept in an alley in New York, dealt with cocaine and all that and he became president. It made me think that there are people out there who are going through worse who have turned their lives around.”

 

For the next two years Reg went to 150 meetings pitching his ideas across three continents.

Eventually he landed an investor after putting his idea out in the Sunday Times. Chris Hughes lent him £100,000 to re-start his career but the banks were still being so difficult that Reg had to get his ex-wife to open his business account for him under her name.

He said “I was stood there with a cheque for £100,000 and they wouldn’t let me open an account.”

In spite of the banks, Reg has managed to scrape his life back together and turn his fortune around.

He has rebuilt himself and a new businesses and is now the CEO of a hugely successful £5 million turnover business, Buy2Letcars.com and Wheels4Sure.com. Not content with that, he is now launching a new business called Lifestyle bids. 

Lifestyle bids is a reverse auctioning platform that gives their extremely luxurious lot items to the lowest unique bidder.

Article source: https://www.getsurrey.co.uk/news/surrey-news/barack-obama-saved-life-kingswood-15662471


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