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. He left school at 16 and started his own business aged 21, selling electricals from a van.
The 70 year old entrepreneur has a net worth of £1.25 billion, making him richer than JK Rowling, The Beckhams and even the Queen. However, many people aren’t aware that his businesses aren’t his central source of income – he makes more money from property.
Sugar’s first businesses
In 1968 Alan Sugar founded Amstrad (Alan Michael Sugar Trading) and began selling electricals such as car radios, hi-fi systems and aerials. It became one of the leading names in consumer electronics, taking advantage of the interest in computers during the 1980s. 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. The company was sold to BskyB in 2007 for £125m.
He also has a history in football chairmanship, working at Tottenham Hotspur during the 1990s. However he sold his shares for a reported £22m in 2001, so how has Alan Sugar been making money since then?
Sugar’s property portfolio
The famous businessman always had a number of projects on the go. In 1985 he set up Amsprop Estates, which is now managed by his son. The company has a property portfolio across London and Essex, which focuses on commercial developments let out to retail and leisure businesses including Tesco and Hard Rock Café.
Sugar’s real estate business now holds the majority of his wealth, as he took £181m in dividends in last year alone. We predict that’s a lot more than what he gets paid on The Apprentice.
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.
If you fancy following in the footsteps of Lord Alan Sugar and setting up a hugely successful property business, see what investment opportunities are currently available.