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Alan Sugar

In: People

Submitted By borzaiga1
Words 712
Pages 3
Name: Alan Sugar
Born: 24/03/1947 (Age: 66)
From: Hackney, London
Famous for: He's the man who loves to say "You're Fired!" on his hit television show, The Apprentice.
Relationship status: Sir Al is married to his wife Ann.

Twelve years younger than his three older siblings, Alan Sugar was the child of low-income, working-class Jews and raised in Upper Clapton Road - England. By the age of 12, he was rising at 6am every day to boil beetroots for a local ‘greengrocer’.
Four years later, Sir Alan's earnings, after school and at weekends, were far better than his father, Nathan, who worked in a tailoring sweatshop.
Leaving school at the age of 16, Sugar proceeded to obtain a post in which he worked briefly for the civil service as a statistician in the Ministry of Education. He also started selling car aerials and electrical goods out of a van he had bought from his £50 savings.
In 1968, aged 21, he set up his own business, selling electrical products from intercoms to retractable car antennas and called it Amstrad, referring to (Alan Michael Sugar Trading).
The company began as a general importer/exporter and wholesaler, but soon specialized in consumer electronics. By 1970, the first manufacturing venture was underway. He achieved lower production prices by using injection moulding plastics for hi-fi turntable covers, severely undercutting competitors who used vacuum-forming processes. Manufacturing capacity was soon expanded to include the production of audio amplifiers and tuners.
This blossomed into a large public company, famous for selling affordable computers and other home electronics products, as well as having pioneered the Europe-wide satellite receiving market. Of his start-up days, Sugar depended solely on cash for buying and selling products due to the inability to obtain credit facilities.
In 1980, Amstrad was listed on the London Stock Exchange and during the 1980s, Amstrad doubled its profit and market value every year. In 1986, he began to sell PCW8256 word processors at £300 each, and Amstrad's stock market value reached around £1.2bn in the late 1980s (although it is now worth approximately £110m).
As a result, Sugar enjoys a chic lifestyle that every businessman dreams off. He has a yacht, a private jet and a mansion in Essex - England, as well as houses in Florida and Marbella. And of course, an owner of luxurious cars, out of which is the Rolls Royce Phantom. He's been married for over 35 years, has three grown-up children and five grandchildren.
In 1991, however, the entrepreneur also invested in football when he announced he'd joined forces with Terry Venables to buy Tottenham Hotspur Football Club, beating off competition from Robert Maxwell and as well saving Tottenham from bankruptcy paying off £20m of debts.
But the Venables-Sugar partnership didn't turn out so well and Sugar has admitted his years as Spurs' chairman were "a waste of my life".
Other main businesses founded by Sugar are as follows:
• Amsair: an aviation company being run by Daniel Patrick, son of Alan Sugar, offering business and executive jet charters
• Amsprop: investment and property firm being run by Daniel Patrick
• Viglen Ltd: IT establishment
• Amscreen: run by Sugar’s eldest son Simon which specialized in offering digital ad screens for medical, leisure, and retail purposes.
Lately, the success of the well-known BBC’s reality TV show The Apprentice has made Sugar a household name and the show has successfully progressed since 2005 at which each week, Sugar "fires" a candidate, until one candidate is left, who is then employed in his company. The elimination of each contestant is announced by the utterance, "You're fired!" which has become a popular catch phrase. The candidates are split into teams and Sugar uses his contacts in the business world to get them assignments in such establishments as famous as Harrods department store.
Alan Sugar was knighted in 2000 for services to business and given a peerage in 2009 as part of the new enterprise role for Gordon Brown government. This role was turned down by Sir Alan due negligence of accepting political role that was neutral to his favor.
Last but not least, it was reported through Wikipedia that Alan Sugar is currently estimated to have a fortune of £770m.…...

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