A FORMER Furness teacher, who left his position to help children in an alternative way, now has a net worth of £121millon.

Richard Parsons, 53, who once walked the halls of Barrow’s Furness College as a maths teacher, sits in 972nd place on The Sunday Times' latest Rich List after selling 11 million study books to the UK educational system.

Mr Parsons is the majority owner of Coordination Group Publications Books in Broughton-in-Furness, which has a head office at Eccle Riggs Hall along with another facility in Millom, on Mainsgate Road.

CGP head of sales and marketing Kate Houghton said: “Frustrated by the lack of quality revision materials available at the time, Mr Parsons decided to write his own guide to GCSE Maths and market it directly to schools.

“Twenty-four years later, CGP has grown to become the UK’s number-one educational publisher. Although the books are no longer written by him, CGP’s uniquely friendly, funny style remains hugely popular with students and teachers alike.”

Before his maths teaching days, Mr Parsons gained a first class degree in physics from Oxford University, but now owns 95 per cent of the revision guides business.

The revision guide book empire - which is now worth £120million - values the stake of the 53-year-old businessman at £114million.

The remainder of Mr Parsons' fortune comes from a petrol station, leisure centre, dividends, property and separate holdings, The Sunday Times reported.