the founder of poundland who grew up with the family motto 'if you don't work you don't eat' has revealed how he gave his parents £25million when he sold the company – but still relies on pocket money from his wife steve smith, 52, grew up helping his father run a stall at bilston market in the west midlands, and opened his first poundland shop in burton upon trent at the age of 18 in 1990 the venture was an overnight success and he became a self made millionaire when he sold the company for a staggering £50million 10 years later scroll down for video  steve smith, 52, (pictured outside his £65million shropshire mansion) opened his first poundland shop in burton upon trent at the age of 18 in 1990 and sold the firm 10 years later for a staggering £50million  when he sold poundland (pictured) in 2000, mr smith gave half of his profits   £25million   to his parents he said he wanted to repay his father's initial loan of £50,000 which helped him start the company at just 18  today, mr smith lives in a 13 bedroom mansion in shropshire, which comes complete with its own swimming pool, snooker room and pub, having successfully launched poundshopcom   an online version of poundland yet, he still receives 'pocket money' from his wife tracy, with whom he has three children: joe, ashley and katie he told the telegraph: 'on a day to day basis my wife gives me a little pocket money the problem with me is that if i have any cash on me i spend it, so she'll give me about £10 or £20 a day' his daily hand out is a fraction of his estimated £40million worth, having successfully invested his money in other business ventures and property since making his fortune in the 1990s with more than 500 stores in the uk   more than double the number it had five years ago – poundland has gone from strength to strength selling everything from toys to toiletries, stationery to shampoo and bread to biscuits but mr smith decided to sell his firm in 2000 and gave his parents half of the profit from the sale when he did so he said he wanted to repay his father's initial loan of £50,000 which helped him start the company he told the newspaper: 'the first thing i did was give my mum and dad half of it my dad had lent me £50,000 to start the company so i suppose it was a good return for him 'if it weren't for my dad learning the trade and passing it on to me then it wouldn't have happened' he previously said he knew poundland would be a success because 'people love a bargain' he said: 'they love the unknown they liked to rummage 'in poundland, we bought stock from all over the world — golf clubs, fantastic products it was great value for money, and that is what motivates me i love giving the public value for money' as well as sharing his wealth among his family, mr smith also used part of his poundland profits to snap up hammer hill house, a sprawling mansion near bridgnorth, shropshire, 14 years ago mr smith, 52, lives in a 13 bedroom mansion in shropshire, which comes complete with its own swimming pool, snooker room, pub, five grand reception rooms, dancefloor, helicopter bed and 30 acres of countryside  despite his wealth, mr smith has admitted that he still receives 'pocket money' from his wife tracy, with whom he has three children: joe, ashley and katie pictured: inside the mansion he shares with his family  mr smith used part of his poundland profits to snap up hammer hill house, a sprawling mansion near bridgnorth, shropshire, 14 years ago he has since spent millions doubling the size of the 15,000 sqft house  his 13 bedroom home also features an indoor swimming pool, a helicopter pad and five reception rooms  the property was originally designed by sir bertram clough williams ellis, who famously created the italianate village of portmeirion in north wales but after mr smith moved in, he soon started to put his own spin on it and set out to double the size of the house the mansion is now 15,000 sqft with 80 windows and boasts its own indoor swimming pool, helicopter pad, indoor dancefloor with disco lights, a snooker room, five reception rooms and an 18 seat walnut dining table set in almost 30 acres of rolling countryside, there is also a host of expensive vehicles parked outside the property including a white rolls royce mr smith recently put the property on the market, having spent millions refurbishing it, as he and his wife want to downsize now their children are reaching their late teens and twenties he said: 'the house is very special to us and it will be a real wrench for us to leave 'we began refurbishing the home in 2000 and finally finished it in 2007 it was a real labour of love and no expense was spared mr smith is particularly pleased with his full bar (pictured) in his mansion he said: 'i especially love our home pub with a fully stocked bar it's really unique and we've had some great parties there' set in almost 30 acres of rolling countryside, his mansion also boasts its own indoor swimming pool, helicopter pad, dancefloor with lights, a snooker room, reception rooms and an 18 seat walnut dining table  with more than 500 stores in the uk   more than double the number it had five years ago – poundland has gone from strength to strength, making mr smith a self made millionaire pictured: his shropshire mansion  mr smith recently put his sprawling mansion on the market for £65million, having spent millions refurbishing it, as he and his wife want to downsize now their children are older and moving into their own homes  'i especially love our home pub with a fully stocked bar it's really unique and we've had some great parties there' the multi millionaire is selling his home via his own property investment company called estates direct   an online house selling service that aims to cut out 'rip off' estate agents and their fees he estimates that he has saved the public over £2million, breaking it down to a saving of about £3,000 per home, with the estate agency service 'i love hearing they have spent the money on something like a new kitchen instead,' he said despite his flash purchases, saving money is something which mr smith still does himself too he claims to still fly economy class when he can and considers value for money when he is present buying speaking of a previous thrifty christmas present for his wife, he said: 'my wife loves jewellery so i bought her a lovely…jewellery cleaner she loves it it was £120, very good value'
18 years old saturday poundland 50million £10   £20 52 year old steve smith 2000 1990 tracy
steve smith became a self made multi millionaire with birth of poundland  52 year old started life in business on his parents' saturday market stall  he opened first poundland shop in 1990 when he was just 18 years old  sold the firm for £50million in 2000 and gave half the profits to his parents  despite his wealth, his wife tracy gives him '£10   £20 pocket money daily'