Matilda Ashley: Mike Ashley’s Youngest Daughter Joins the Family Business
Matilda Ashley, the youngest daughter of sports retail tycoon Sir Mike Ashley, has quietly taken on a major role at the family’s business. At 27, she’s already a director at Mash Holdings Ltd., which her father uses as the vehicle through which he owns a major stake in Frasers Group Plc. So let’s unpack exactly what that entails—and how she got here.
Early Life & Family Background
Matilda Elvira Filippa Ashley was born in December 1996 to Mike Ashley and his first wife, Linda Jerlmyr, and is the youngest of three children. Her father, Mike Ashley, started Sports Direct, founded Frasers Group, and built a retail empire that includes House of Fraser, Flannels, Evans Cycles, and Jack Wills.
Mike Ashley, despite being long divorced from his first wife (Matilda’s mother), has remained a retail powerhouse, coming in at 52nd place in the Sunday Times Rich List 2025, with £3.12bn.
Education & Early Ambitions
Matilda lived her childhood away from the glare of the cameras. Little is known about her education, though she reportedly was educated in the UK and had developed interests in beauty and business long before entering into formal roles at her father’s companies.
She remained low-key, concentrating on gathering real-world experience instead of chasing online attention.
Siblings of Matilda Ashley
Matilda isn’t the only child in the Ashley family. She has an elder sister, Anna Ashley, and a brother, Oliver “Ollie” Ashley, who is also older than her.
Anna’s husband is Michael Murray, who was named chief executive of Frasers Group in 2022. Anna is not out in public to any meaningful extent, but within the family insider circle, she is bound tightly to the group leadership.
Their brother, Ollie Ashley, is a little different from his sisters. When not protesting, he is engaged in the music business as a DJ and managed the Radar Radio network, which he founded, until its closure in 2018.
His trajectory reveals a creative side that contrasts with the family’s more business-minded interests. So even as Matilda confidently takes her place in the family trade alongside Anna’s husband, Ollie has forged his path in music. It’s a good spread of interests between the siblings.
Entrepreneurial Start: Double Take & SportFX
One of Matilda’s earliest ventures was starting the beauty brand Double Take in 2015. The brand’s SportFX line was sold in Sports Direct stores, and during the pandemic, it received financial support from Mash Holdings—her father’s vehicle for investing in and maintaining family businesses.
Last year, in a somewhat surprising move, Frasers Group acquired Double Take for £1 and Matilda stepped down as a director.
The deal raised some eyebrows, partly because shareholders weren’t told in advance—but the transaction kept SportFX alive and under family control.
Joining the Family Enterprise
On 19 August 2024, Matilda was officially appointed as a director of Mash Holdings Ltd., the central company through which Mike Ashley holds his shares in Frasers and related businesses.
Now, at 27, she sits among a small but growing group of family members—alongside her sister Anna’s husband, CEO Michael Murray, and her boyfriend, David Al‑Mudallal, who’s COO of Frasers
This is part of a broader trend at Frasers: Mike Ashley has brought trusted family and close associates into leadership roles. It’s earned some attention in the City and from corporate governance experts, especially after earlier concerns over related-party dealings
What Mash Holdings Manages
Mash Holdings controls Mike Ashley’s majority stake in Frasers Group, so Matilda joining the board isn’t a minor role. The company holds assets and rights across retail, beauty, and sports equipment
But it’s also a family enterprise with deep ties to her brand ventures. Through Mash, profits from Double Take, SportFX, and the broader retail empire flow to the family in a consolidated structure.
Financial summaries show Mash Holdings had net assets of about £335 million as of April 2024. Pomanda estimates its enterprise value at £875 million, though valuations vary given the complexity of its holdings
Personal Life & Public Presence
Matilda keeps her personal life very private. There are no flashy red-carpet photos or tabloid drama around her.
She lives quietly, and while her relationship with David Al-Mudallal has made headlines due to his role at Frasers, Matilda herself doesn’t seek publicity.
She hasn’t built a public social media profile like some influencers. Any online presence is low-key and professional—mirroring the behind-the-scenes approach she seems comfortable with.
What About Net Worth?
It’s tricky to pin down her personal net worth. She doesn’t earn millions in modelling or influencer deals. Instead, it comes from her business roles. As a director with equity interests in Mash Holdings and past ownership of Double Take, she likely benefits from profit distributions and a share in the family’s overall assets—tied closely to the Frasers stake.
Given Mash Holdings’ net assets alone are in the hundreds of millions, Matilda’s personal share could be substantial—but still a small fraction of her father’s overall fortune, which stands at around £3.12 billion.
Conclusion
Matilda Ashley isn’t a tabloid ‘celeb, but in a quiet way she’s become a lead player in one of Britain’s largest retail dynasties. Her ascent from her own modest beauty start-up into an official position at Mash Holdings means she’s earned family trust—and not just because of her last name.
Her path is an unusual combination of single-minded ambition, entrepreneurial spirit, and no-nonsense attitude to family business. Someone in their twenties becoming a director of a multi-billion-pound empire is quite the accomplishment. And she’s doing it without drama, cameras, or online fanfare.
In many ways, Matilda represents a newer generation of business heirs—grounded, discreet, and focused on learning through doing rather than shouting about it.
That’s not flashy, but sometimes that’s exactly the point.
