Lord Sugar enjoys multi million pound payment from Apprentice stars business
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Lord Alan Sugar has enjoyed a multi-million pound pay-out after selling his stake in one of his businesses from The Apprentice.
The business magnate and TV personality cashed in after a £200,000 investment in 2011 in Tropic Skincare, founded by entrepreneur and series seven contestant Susie Ma.
It sells freshly made skincare and cosmetics products and is thought to have been one of Lord Sugar’s most successful investments from the BBC One business show.
READ MORE: Lord Sugar's biggest controversies – racism fury, Piers Morgan feud and Martin Lewis row
The buyout of Tropic means the former reality TV star will regain full ownership of the brand which she founded in 2004 at the age of 15.
Lord Sugar said the fast-growing business has been “nothing short of remarkable” since his investment, having recorded a turnover of more than £90 million in 2021 and a pre-tax profit of £10.5 million, although the value of the sale has not been disclosed.
Susie explained how it has always been her “ambition” to regain ownership of the company that now sells more than 400 products and employs more than 300 staff.
Thanking the business mogul, she commentated: “I will always be so grateful for the investment Lord Sugar made, and the potential he saw in Tropic Skincare with me at the helm.”
The 34-year-old first competed on the seventh instalment of the entrepreneurial show in 2011. Although she came third in the series, she still managed to secure investment from the BBC personality.
Lord Sugar said: “Susie is a shining example of what it is to be a business owner today. When I first met Susie in 2010, I saw a unique grit and determination and it’s a drive she has maintained over the years.
“Following the company’s fantastic trajectory over the last few years, it’s now the right time to part ways and allow Susie the space to take the company to new heights.”
This comes as Series 17 of The Apprentice came to an end with winner Marnie Swindells receiving a £250,000 investment to develop her boxing gym concept.
After an intense all-female final between Marnie and Rochelle Anthony, the business mogul decided to team up with 29-year-old star Marnie.
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- BBC
- The Apprentice
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