Alan Michael Sugar is the creator of the hugely successful electronics company Amstrad, which he later sold to broadcaster BSkyB. He is one of the most well-known British businesspeople in the world. From 1991 to 2001, the business magnate was also the chairman of Tottenham Hotspur. From a young age, it was clear that the intelligent young kid would grow up to be a successful businessman. His family couldn’t afford to purchase him a new bicycle, so he made one out of an old frame. He began working part-time for a greengrocer when he was 12 years old, and by the time he graduated from high school, his earnings had surpassed those of his father! The enterprising young man was also fast to establish his own company. He created Amstrad when he was barely 21 years old, originally dealing in consumer electronics before expanding to other product lines. During the 1980s, the company evolved to be one of the most profitable ventures before being sold to broadcaster BSkyB in 2007. He rose to prominence as a result of his appearance on the BBC reality show ‘The Apprentice.’ Despite his success as a businessman, he is not without flaws; he has been chastised for his antiquated attitude toward women.
Childhood and Adolescence
Nathan and Fay, Jewish parents, raised him as the youngest of four children. His father was a tailor, and his family was impoverished.
Before attending Brooke House Secondary School, he attended Northwood Primary School. His financial acumen was evident from an early age; even as a school student, he began working for a greengrocer to supplement his income.
At the age of 16, he dropped out of school and started a modest business selling automobile aerials and gadgets. His earnings quickly surpassed those of his father.
The Career of Alan
The young guy, who was naturally gifted with a keen sense of financial acumen, founded his own company, Amstrad, when he was just 21 years old. With the name AMS Trading (Amstrad) Limited, it began as an export-import and wholesale corporation. Consumer electronics were soon added to the company’s portfolio.
By 1970, the corporation had also established a manufacturing division. It became one of the most prominent marketers of low-cost, high-quality goods such as televisions and car stereos during the next decade.
He applied fresh and inventive approaches in the manufacturing process, which resulted in significant cost savings for the organization.
Amstrad went public on the London Stock Exchange in 1980, and during the early 1980s, it more than doubled its revenue. In 1984, the Amstrad PC line was launched in an attempt to capitalize on the spike in demand for personal computers at the time.
In 1988, the business released the PPC512 and 640 PC models in an attempt to introduce affordable portable computers to the market. On an 8 MHz processor, these machines ran MS-DOS.
Despite having experienced an enormous expansion in the 1980s, the corporation struggled in the 1990s. In 1990, Amstrad attempted to join the video game console market with the GX4000, but it was a commercial failure.
In 1993, Amstrad released the Amstrad Mega PC, a system that was similar to the Sega TeraDrive. However, the system was extremely expensive, and as a result, it was not very successful. The PenPad’s release was likewise a commercial failure for the company.
Despite having no prior experience with football, he partnered with Terry Venables to purchase Tottenham Hotspur in 1991. He approached the club solely as a business operation, not as a sporting endeavor.
He became extremely unpopular with the fans as a result, and by 2007, he had sold the club to the leisure business ENIC.
In order to remake itself as a profitable company, Amstrad decided to focus on communication technology. Betacom, Viglen Computers, and Dan call Telecom were among the telecommunication companies they bought in the early 1990s.
Amstrad began to make money again as a major supplier of set-top boxes to Sky, a satellite television provider in the United Kingdom. The sky became their biggest client because the company was the only one making receiver boxes and dishes at the time Sky was founded.
Since 2005, he has been a contestant on the BBC reality show ‘The Apprentice.’ He fires an applicant each week until just one is left on the show. The winner either works for Sugar’s company or forms a partnership with him to start his own.
Amstrad was purchased by the broadcaster BSkyB in 2007 for around 125 million pounds. Over the last few years, BSkyB had been Amstrad’s most important client.
He also established a number of other businesses, including Amsair Executive Aviation, Amsprop, Viglen Ltd., and Amsreen, all of which are now run by his sons.
Alan’s Major Projects
He founded Amstrad, an electronics company that helped him become the billionaire that he is today. During the 1980s, the corporation, which was started in 1968, experienced tremendous growth. In 2007, Sugar sold the company to its biggest client, BSkyB.
Achievements & Awards
In recognition of his commercial services, he was awarded the rank of Knight Bachelor in 2000.
Personal History and Legacy
In 1968, he married Ann Simons. The couple is happily married and has three children.
Estimated Net Worth
As of 2011, Alan Sugar, one of Britain’s most well-known businessmen and media barons, had earnings of around US$1.14 billion. Alan began his career by selling electronic goods through his AMSTRAD and then moved on to television.
Since 2005, Alan has been a cast member of the popular BBC television show ‘The Apprentice.’ Alan Sugar was ranked 84th on the ‘Sunday Times Rich List’ in 2011.