A BILLIONAIRE bungalow owner went bankrupt a few months after he bragged about how his bank account had exploded.
Businessman Bob Bull, 88th on The Sunday Times Rich List, owes £725m.
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Bob Bull and his fiancee Sara on £10m Credit: Arthur Edwards / The Sun
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The spacious villa has its own bowling alleyCredit: Arthur Edwards / The Sun
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Sara, 30, is a Norwegian model Credit: Instagram
Six months ago he claimed he was worth £1.9billion as he showed The Sun his £10m mansion, complete with bowling alley and £4m collection of 12 supercars.
This week, lawyers in the bankruptcy class action against him said: “Mr Bull’s claims that he was very wealthy were wrong.”
Bull, 46, who lives with his blonde Norwegian model fiancee Sara Nilsen, 30, near Southampton, made his fortune converting caravans into luxury bungalow estates.
His company employed 2,000 workers and was reportedly worth £4 billion.
READ MORE AT BUNGALOW BOB
The couple’s home has its own three-lane bowling alley and six double garages to accommodate his supercars.
Bull owns five Rollers, two Lamborghinis – the Aventador and the Urus – plus a 211 mph Ferrari GTS.
He told the Sun: “They’re all special. You can’t just go to a garage and buy them.
“They either have bodywork, unusual colors or their engines are enlarged.
“We also have the fastest Porsche 911 turbo in the world.”
In a corner of his home’s three-acre garden — protected by two security men and a pair of Doberman watchdogs — sits a station wagon, to remind Bob where it all began.
The couple have their own butler and also own a £1m home in Sarah’s hometown in Norway.
They met in a bar in Mayfair in 2019 after Bob was with his bankers, but both were in a relationship.
Sara said: “When I held Bob’s hand, I could feel him yearning for touch.
“I thought ‘I’m going to make you the best you can be. You’ll look and feel better.
“We’ll clean your teeth, fix your hair and lose weight.” And he did it.
“I’m so proud of him. He really cares about the job.
“I told him ‘What’s the worst that can happen? You’ve lost everything. You’ll still have me, we’ll start over.’
The bankruptcy proceedings followed the collapse of the RoyaleLife holding company.
According to court documents, the £725m debt consists of 22 loan agreements for which Bull has given personal guarantees to a range of lenders.
It hopes to enter into an individual voluntary debt repayment arrangement of just 0.25 per cent.
His lawyer said: “It’s not a huge return to creditors, but it is a return.”
Bull previously went bankrupt in 2016 due to debts of £3.5m but has bounced back. His spokesman has been contacted for comment.
In September it was announced that Bull was fighting a legal battle over more than £32m of unpaid debt.
Tony Barney, 59, claimed Bull owed two of his caravan companies more than £32m.
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Bob made his fortune building luxury bungalow estates Credit: Arthur Edwards / The Sun
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The couple also own a house in Sarah’s hometown in NorwayCredit: Arthur Edwards / The Sun
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