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As of 2021, Alan Sugar net worth is £1.7 billion. Which is £10m less than what was reported in 2020. Alan Sugar was ranked number 138 on the Sunday Times Rich List of 2021, indicating that he had dropped down seventeen positions from the year before. This makes Alan Sugar the 121st richest person in the UK. It was reported by the Sunday Times Rich List that Alan Sugar became a billionaire in 2015.
How did Lord Alan Sugar earn his fortune?
The majority of Lord Sugar’s wealth was firstly accumulated from his company called Amstrad that he founded in the late sixties. It was a computer and electronics company that sold consumer electronics.
The name Amstrad was conceived by taking his initials and adding half of the word “trading” at the end. Amstrad originally started as a general importer/exporter and wholesaler of goods. Later on, they branched out into consumer electronics. By 1970, manufacturing services were taken into full effect with innovative ways to produce gadgets which gave them an advantage against competitors.
Amstrad was eventually listed on the London Stock Exchange by 1980 and profits continued to double until into the 90s. At the height of its success, Amstrad was estimated to be £1.2 billion. By the age of 40 years old, Alan Sugar was well known in the UK as a business mogul and personality.
As Amstrad made progress through the years, Alan Sugar had the vision and room to branch out into several other business ventures and areas in order to expand his horizons.
A grand total of all his earnings from the company Amstrad and all the other businesses is basically how Alan Sugar made his wealth. But Amstrad was the beginning and what catapulted him into wealth.
HOW LORD SUGAR HAS MADE MILLIONS FROM PROPERTY
Alan Sugar, also founded Amsprop in 1985, which deals with property. This company sells commercial land in highly popular areas such as London. Due to the popularity of these locations, the prices attached are exorbitant. Sometimes they reach way into the millions.
Amsprop is now run and managed by son Daniel Paul Sugar, Alan.
Sugar’s first businesses
Alan Sugar was born in Hackney, East London in March 1947. He went to school briefly but left school at the age of 16. Alan Michael Sugar had his first business venture after he finished his civil service at the Ministry of Education as a Statistician that he got after leaving school. He started selling radio aerials for vehicles as well as electrical goods out of a van. The van he was using cost him £50 and he got the money after withdrew his postal saving which amounted to £100.
Eventually, he would then find Amstrad when he was 21 years old, an electronics company and be set on the path of entrepreneurship.
Other business ventures
In June 1991, together with Terry Venables, Sugar bought the football club Tottenham Hotspur. Alan Sugar treated the club more as a business venture as opposed to a sports club. That did not go down very well with the fans. Sugar invested in the club in order to alleviate a few financial troubles they were passing through.
Despite this, the club was performing poorly and Venables was sacked. A court battle ensued in which Sugar won. More clashes continued over the years with managers, players and fans of Tottenham Hotspur.
Sugar sold his majority stake at the club in February 2001. He sold 27% of the club for £22 million to leisure group ENIC. A few years later, his remaining 12% of shares were sold again to ENIC for £25 million ending his rocky period at the club.
Amsair was founded in 1993 and is an executive aviation company. Sugar’s son is in charge of it. The name was also derived from Alan Michael Sugar’s initials. This company operates a large Cessna fleet and one Embraer Legacy 650 with the registration G-SUGA. They are known for their business and executive jet charters.
They have access to over 5000 aircraft worldwide and claim to have owned the largest UK fleet of Citation Excel jets and Charter-based Embraer Legacy business jets.
Amsprop was established in 1985, which deals with property. This company sells commercial land in highly popular areas such as London. Due to the popularity of these locations, the prices attached are exorbitant. Sometimes they reach way into the millions. The company reportedly has a net worth of £800 million.
An example is a company selling Burberry’s Haymarket flagship store location for more than double the price-cashing in a £65 million cheque on land that initially only cost £31.5 million. They doubled their money with simply that sell.
This is an IT services provider in charge of providing services to the public and education sector. He became the Chairman of the board at Viglen Ltd but resigned in 2009. It was sold to XMA in 2014. It has a net worth of £10 million.
Simon Sugar, Sugar’s eldest son, runs this Amscreen while Sugar himself remains Chairman. It specializes in selling advertising space on digital signage screens that it provides to retailers, medical centres and leisure venues.
The screens possess unique face detection features called OptimEyes where the age and sex of viewers are identified.
Its networth is £11 million.
Youview a television project backed by BBC, ITV, Channel 4, Channel 5 and other television channels. Alan Sugar served on the board for a year in 2012.
Is Alan Sugar a good businessman?
He is believed to be one of the best and most successful businessmen in the world, let alone the UK. Along with all good businesses man and woman, we have articles on others from the Dragons Den and their net worth.
Here are a few things that made Sugar be a successful and therefore a good businessman:
- Alan Sugar is fully aware of the concept of ownership
- He was able to be a self-motivated leader. He had no one but himself to motivate him to aim higher and to challenge himself.
- Alan Sugar possessed the perseverance and persistence to obtain his goal. There were periods in time where Alan Sugar met challenges. For example, when he was at Tottenham and in the 90s when Amstrad was having a rough patch.
- The mental toughness to never give up.
- As an entrepreneur, Alan Sugar continually pursued new opportunities.
- Alan Sugar was more than willing to learn along the way. Remember he did not come from a background of entrepreneurship or anything of the sort. So he had to learn as years went by.
- Sugar knew that the best time to start is now. He took his savings years ago to purchase the van for selling the electronic devices because he knew it was now or never.
- Knew how to stand his ground. This was more apparent during the time at Tottenham Hotspur. Alan Sugar faced a lot of pressure and opinions from the fans of the football team. However, he did not let them dictate his decisions and moves, even though they always seemed unpopular to the fans.
- Always operated within a business mindset. When Alan Sugar became a chairman for the football team, he treated it more like a business idea that he was investing in rather than as a sports team that he wanted to win. He knew that if he played his cards right, it would give him a large number of returns. Sure enough, he was correct, he took the club out of financial problems, but the team never achieved really big sporting results during the period in question.
Does Alan Sugar give to charity?
Yes, he very much does. He is always donating amount from his fortune to charitable causes. For example, he gave £3 million to refurbishing Hackney Empire in Hackney East London after he had sold his interests in Tottenham Hotspur football club. Furthermore, it is well known that his wages and earnings from appearing on The Apprentice go towards Great Ormond Street Hospital.
Furthermore, Alan Sugar is known to be a philanthropist for Jewish Care and has donated £200, 000 to the British Labour Party which is a political party.
Alan Sugar is no stranger when it comes to involvement within the political scene. He was one of 200 figures who signed a letter addressed to The Guardian newspaper in August 2014 that expressed their hope that Scotland would vote to stay part of the United Kingdom in September’s referendum on the same issue. Moreover, Alan Sugar was part of the Labour Party from the year 1997 to 2015. He explained that he left due to the party’s “negative business policies and general anti enterprise concepts they were considering if elected”. In the 2019 general election, Alan Sugar endorsed Boris Johnson and the Conservative Party.
How did Lord Alan Sugar become famous and what other TV shows has he done?
Lord Alan Sugar was a well-known person in the UK for his achievement of being a self-made billionaire and owning several business ventures.
Alan Sugar has been popular in the last couple of years because of his involvement in the broadcast television show called The Apprentice. Alan has been on all seasons since the show first appeared on TV screens in the year 2005.
The Apprentice is a franchise show originally beginning in America. The UK version features Alan Sugar and it focuses on business persons competing against one another in several challenges designed to test their business skills. Alan Sugar has a team
The show has been a hit from the first season. With many more countries adopting their own versions as well as funny memes and parodies created.
As for the viewing figures, they have always been in the millions. The show was originally airing on BBC Two and would bring in an average of 2.5 million viewers each episode, with an audience share of 11% for the timeslot it was in. This allowed the show to beat popular programs that were broadcast on rival channels during the same timeslot. The following year, the second series was attracting a higher audience average of 4.4 million. The viewer numbers would increase over the next years and series.
Alan Sugar has confessed that The Apprentice has made him a household name.
Lord Alan Sugar has made appearances on other shows. For instance, he was on Who Wants To Be a Millionaire at some point as well as on the soap opera, EastEnders, which is based in London.
According to IMDB, he produced Blame It On the Moon and The Survival Club as well as executive producing a series called One on One. Most of his appearances are as himself on Tv shows mostly based in the UK.
Generally though, due to his appearances on The Apprentice, Alan Sugar has become somewhat of a media personality. In fact, some younger viewers of The Apprentice tend to associate Alan Sugar more with the show as a media personality due to his multiple appearances and work towards promoting the show rather than as a genius entrepreneurial mogul.
How Much Money Did Lord Alan Sugar Make Doing The Apprentice?
Alan Sugar has nine investments from The Apprentice. they sum up to an estimated net worth of £8.3 million- averaging over £920, 000 each.
Alan Sugar donates the money he makes when he appears on the show to Great Ormond Street Hospital.
Will the Apprentice return in 2021?
Due to the disruption caused by COVID-19, The Apprentice went missing from our TV screens. for a bit. Alan Sugar has said that it should be back by 2022 at the earliest. At the moment a search for contestants is underway. The filming will occur in 2021 but will end up airing next year.
However, there are hopes that the Australian version of the franchise show can be aired instead so that viewers can still get their annual fix of The Apprentice on the BBC. We’ll keep our eyes fixed on the screen to see what will happen next.