No joke as slump costs comedian millions

The TV and radio presenter invested in American International Group (AIG) which took a severe battering during the financial crisis.

He was forced to re-evaluate his life when a substantial chunk of his wealth was wiped out as the insurer recorded massive losses.

Recalling the experience on Radio 4's Desert Island Discs yesterday, he said: "I had been persuaded by my personal bankers that AIG was a very, very safe place to put my life savings.

"And AIG, as you may remember, had a bit of a hard time so there was a period when I thought I had lost it all."

When asked how much he had lost, he replied: "It's a lot. It's a few million. I can't believe I said that. I'm a millionaire for God's (sake). Well, I was."

"The first night I thought I had lost it all, I went home and I said to my girlfriend, 'look, a bit of bad news, I think I might be broke' and she said, 'You know we'll be all right. You can still get work. You can go back and do the clubs, we can move to a smaller place.'

"And we actually practically dealt with it quite well. I never really had the big panic about it which I find now very reassuring."