Alan Sugar is a British businessman, media personality, and politician. Sugar is best known for founding the electronics company Amstrad in 1968, which produced a range of products including computers, audio equipment, and satellite receivers.
Sugar was the chairman and part-owner of Tottenham Hotspur from 1991 to 2001, selling his remaining stake in the club in 2007 as well, for £25m.
He is also known for being the host and “Boss” of the BBC reality competition series The Apprentice, which has been broadcast every year, with the exception of 2020, since 2005.
According to the Sunday Times Rich List, Sugar became a billionaire in 2015. In 2021, his fortune was estimated at £1.21bn, ranking him as the 138th-richest person in the UK.
How much did Alan Sugar sell Amstrad for?
In 2007, Alan Sugar sold Amstrad, the electronics company he founded in 1968, to BSkyB (now known as Sky) for £125 million (approximately $158 million USD at the time). The sale included all of Amstrad’s subsidiaries, including the computer division and set-top box business.
The sale represented a significant financial gain for Sugar, who had built Amstrad into a highly successful business over the course of several decades.
What does Amstrad stand for?
Amstrad stands for “Alan Michael Sugar Trading”. Amstrad is a portmanteau of the words “Alan Michael Sugar Trading”. The name was created by Alan Sugar when he founded the company in 1968. At the time, Sugar was operating out of a small office in East London and was focused on importing and distributing consumer electronics, such as hi-fi systems and radios.