Published On: Wed, Oct 2nd, 2019

Alan Sugar net worth: Is Apprentice star as rich as you thought?

Lord Alan Sugar is one of Britain’s most celebrated business moguls, and star of BBC’s The Apprentice. He is the definition of the much loved “rags to riches” story, starting out his life on a housing estate in Hackney.

Self-made billionaire Alan Sugar is best recognised for starring in The Apprentice, however, appearing on the widely popular show wasn’t what made him his fortune.

The savvy investor and television personality earned his money through a string of business ventures, most notably founding Amstrad (Alan Michael Sugar Trading), a computer and electronics company in 1968, which turned out to be his largest business venture.

By 40 years old, Alan Sugar was reportedly worth around £600 million.

However, a series of products which failed to win over the British public and the stock market crash of 1987 saw Amstrad lose a lot of its value.

Therefore he later sold his interest in the company in a deal to BSkyB for £125 million, in 2007.

During 1991 and 2001, Sugar was the chairman and part-owner of Tottenham Hotspur, but he also sold his stake in the club in 2007 for another £25,000,000.

According to The Sunday Time’s Rich List, Sugar became a billionaire in 2015 with his fortune to be estimates at £1.15 billion but since then in a newly released Rich List by The Sunday Times it is estimated that his net worth has grown to a whopping £1.21 billion. Currently he ranks as the 123rd richest person in the UK.

Alan currently runs Amsprop (Alan Michael Sugar Property), alongside his son Daniel Sugar, who acts as MD for Amsprop Estates.

The company invests in commercial property across London and Essex and has since sold on some of their portfolios to other investors for a significant profit. Amsprop now hold the majority of Alan Sugar’s wealth, as he took £181 million is dividends in the last year alone.

The property company has a mass portfolio across London and Essex, which focuses on commercial developments let out to retail and leisure businesses including Tesco and Hard Rock Café.

The multimillionaire may be most renowned for being a business leader, but in fact he’s a property tycoon and it’s his portfolio which has made him one of the richest people on the planet. Property is an investment which keeps on maximising income if a portfolio is managed correctly.

However, born on the 24 March 1947 in Hackney, East London, Alan Michael Sugar had a more humble upbringing. Born into a Jewish family, his father Nathan, was a tailor in the garment industry.  When he was young, his family lived in a council flat. He attended Northwold Primary School and then Brooke House Secondary School in Upper Clapton, Hackney, and made extra money by working at a greengrocers.

After leaving school at the age of sixteen, he worked briefly for the civil service as a statistical at the Ministry of Education. However, ever the business minded, Alan aged 21 began selling radio aerials for cars and other electrical good out of a van which he had bought for £50 and insured for an extra £8.

Sugar has a property empire, a £12m yacht and more than 5m Twitter followers, but there is one thing the 72-year-old still does not have.

In an interview with Radio Times, Lord Sugar told the publication that it was ‘unbelievable’ that the show had won two BAFTA TV awards but that the physical award had been taken by behind-the-scenes staff who made the show, leaving him empty handed.

“I went up there and made the acceptance speech and all that stuff, right? And I was told, no, they’re not for me, that’s for the hard-working backroom people in [TV production company] Boundless – one of whom was an accountant, believe it or not.”

So I think it’s about time that Bafta started to recognise the show as a major contributor to business on television – in a similar manner to Simon Cowell [who received Bafta’s special award in 2010]. I think Bafta should recognise me for my great contribution to business, and give me one of these awards.

“Honestly, it was really frustrating – more so for my wife than myself. She couldn’t understand it. She knew how hard I fought to get the Junior [Apprentice] done. And then we go to the ceremony, it wins, and she goes: ‘Where’s your award?’ I said: ‘No, I don’t get one.’ Unbelievable. Unbelievable.”

The 15th series of the Apprentice will return on 2 October 2019 at 9PM on BBC1.

BBC One will broadcast the show on a weekly basis and it is expected to last around 12 weeks, it is the followed by ‘You’re Fired’ on BBC Two at 10PM.

The latest series of The Apprentice will see sixteen eager entrepreneurs compete against one another to become Lord Sugar’s next business partner.

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