The Sunday Times Rich List: Alan Sugar climbs the ranks

Lord Alan Sugar is worth an estimated £1.082bn, according to The Sunday Times Rich List.

The frontman for BBC’s smash hit The Apprentice came in at 159th on the annual list, up from 165th last year. 

How did Lord Sugar make his money? 

The businessman is best known for the launch of Amstrad, a British consumer electronics company, which sold personal computers. However, it was property that made Alan Sugar a billionaire. 

New Companies House filings show the tech tycoon sold five properties with a combined value of £102m in 2021-22. This is significantly more than the £43.6m he had spent on buying and refurbishing the buildings.

It was unveiled last year that the 77-year old tried to dodge a £186m  tax bill by becoming a non-resident of the UK for tax purposes. 

His attempt to become a non-resident failed because he was a member of the House of Lords. 

Alan Sugar entered the Lords as a Labour peer in 2009 but abandoned his party affiliation in 2015 and has sat as a crossbench peer since 2017, according to The Times. 

The married father of three is understood to have taken a formal leave of absence in 2022.

The Apprentice lost 1.2m viewers when it launched this February. 

Just 3.6m people tuned in to watch a slew of hopefuls battle it out for a chance to work with the businessman. 

Boutique gym boss Rachel Woolford won Lord Alan Sugar’s £250k investment, beating piemaker Phil Turner. 

The reality television series has run on BBC since 2005. At its peak 6.8m people tuned in to watch the series.