Mitchell Stuart, 21, was caught by police doing almost twice the speed limit in his brand new Porsche 911 near a primary school.
Stuart, who lives on Sandbanks, holidays on chartered yachts and feeds his pet dog steak, already had six points on his licence and faced being banned.
He hired, at significant cost, a top London barrister who told a court that his client's media business was in trouble and he was £50,000 in arrears.
Magistrates ignored Stuart's pleas and banned him for 30 days.
Afterwards, Stuart sprinted out of court towards his father's BMW car with his suit jacket covering his head to avoid photographers.
Stuart, who runs social media company Inferno Media in Bournemouth, Dorset, was caught by a police officer doing speed checks near Lilliput Church of England Infant School.
He was doing 55mph in a 30mph road shortly before 3pm on June 5.
He was pulled over and immediately accepted he was driving too fast, telling PC Kier Dagnall: "I don't know what I'm thinking."
At Poole Magistrates' Court Stuart claimed he was running late for a meeting that would "help his business survive".
He claimed his business could collapse and he would be forced to declare bankruptcy if he was disqualified him from driving.
But the magistrates were not told that six months ago Stuart gave an interview to the Guardian newspaper boasting about earning a five-figure sum each month, owning two homes and taking off two weeks every month to travel the world.
But barrister Archangelo Power, who specialises in serious crime including murder and armed robbery, told magistrates that client was in fact struggling financially.
Mr Power said Stuart was given the Porsche as a present by his father but has since sold it.
He said: "He was not speeding for sheer enjoyment. He was late for a meeting. His business is in heavy arrears of some £50,000.
"This is a young man of previous good character who is also a school governor and has done his level best to work since he was 16.
"He is one of those start-up child prodigies."
Mr Power claimed Stuart had taken on a second job in September with 4Com, doing social media for the communications company, as a result of his business troubles and his contract would be terminated if he was disqualified.
He also employs five people at his business, which Mr Power argued the loss of their jobs constituted exceptional hardship.
But magistrate Martin Arthur lambasted Stuart for his actions.
Mr Arthur said: "It was a brand new Porsche. He is 21 years old. He is £50,000 in arrears. That car probably cost more than £50,000. It's probably that sort of thing that's causing the business problems.
"He cannot drive in this manner through this conurbation, or any conurbation, and not have an accident and maybe kill someone."
He told Stuart: "We feel you need a short, sharp shock.
"Your company isn't going to fail because you were speeding. If it's going to fail, it's going to fail."
The magistrates banned Stuart from driving for 30 days and ordered him to pay £816 fine, £81 victim surcharge and £85 costs.
In the Guardian article titled 'Money – How I spend It', Stuart claimed to have bought the Porsche himself, rather than it being a gift from his dad.
Stuart said he started his business from scratch aged 17, selling advertising space on social media sites likes Facebook.
He talked about preferring to travel by private jet and having been to 30 different places in the last year.
He boasted of drumming up £250,000 in business by meeting other CEOs while globetrotting.
He said he had recently bought himself a £12,000 jet ski as well as the Porsche.
He also said he spends £200 to £300 a month on his Springer Spaniel dog Charlie, buying her a steak when they walk to the local pub.
As well as his media company, Stuart said in the article that he has a six-figure sum invested in cryptocurrencies and two buy-to-let properties which pay for his mortgage on his three-bedroom Sandbanks flat.
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