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Former MD of audio conferencing company Worldwide Group Paul Bailey is in a stable condition in hospital following a crash during a charity motor show in Hal Farrug, Malta, which also left 26 spectators injured.
Bailey's £750,000 Porsche Spyder span out of control and ploughed through the safety barrier into the crowd.
Bailey, 55, and his wife Selena each owned 45% of the private shares in Worldwide Group Holdings and sold the business to Daisy in 2012 for £28m.
Lynchwood-based Worldwide Group was founded in 2001 and reported revenues of £36.4m and EBITDA of £4m in 2011, before its acquisition.
Bailey also made the headlines when he became the first person to own the 'Holy Trinity of hypercars' - the McLaren P1, LaFerrari and Porsche 918.
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