Sir Alan Sugar gets a £390m dividend payday – one of the biggest cheques ever handed to a British boss – after branching out into property

  • The Apprentice star paid himself an astonishing £390million last year
  • According to sources, Sugar’s decision to invest in property was a big win for him. 

Alan Sugar is so proud of his wealth that he once shared a photo of a cheque he had written to the taxman for a staggering £58.6 million.

Rishi Sunak, Chancellor of Exchequer, can expect a significant boost in the bank accounts.

For I can reveal that The Apprentice star paid himself an astonishing £390 million last year — equivalent to more than £1 million per day. It’s one of the biggest pay cheques ever handed to a British boss.

‘Sugar certainly doesn’t seem to have suffered much during the pandemic,’ a business source tells me. ‘His move into property has paid off, big time.’

The Apprentice mogul has made a whopping £390million last year - more than £1million a day

The Apprentice mogul has made a whopping £390million last year – more than £1million a day

Last week, Amshold Ltd filed accounts revealing the dividend. AMS is his initials. The dividend is not based on the company’s performance over the past year, but on previous successes.

Winners of his hit BBC show receive an investment sum of £250,000, so Lord Sugar has been paid enough to cover more than 1,500 series of the show. Amshold’s principal activities are described as ‘property trading and investment’ as well as ‘the provision of management services’.

A note in the accounts also mentions ‘media activities’.

It returned a £47 million pre-tax profit on turnover of £79 million in the year to last June. The group held £271 million worth of investment property at the date the accounts were filed.

Amshold is reported as being ‘wholly owned by Lord Sugar’, while his sons, Simon and Daniel, are directors.

The monster payout was disclosed as a dividend in accounts from his holdings company - Amshold Ltd this week

This week, the monster payout was revealed as a dividend from Amshold Ltd his holdings company.

Ann, his wife, was an active director, from the incorporation of the company to May 2013, when her share in it was sold to her husband.

There were 26 people employed. These included 21 administrative personnel and five directors.

Total staff costs were recorded as £2.6 million, of which £502,000 went to the highest-paid director. That’s likely to be Lord Sugar, meaning his total remuneration would be £390.5 million.

The dividend makes Lord Sugar one of the world’s best-paid bosses. Denise Coates was the joint chief executive at online gambling company Bet365. She became the most highly-paid female in the world last year. She received £469 million in salary and dividends.

It seems unlikely that anyone will tell Lord Sugar in the near future: ‘You’re fired!’