Albert Gubay’s profile picture

Albert Gubay

Albert Gubay’s profile picture
Net worth 2018: $1.1 Billion
Industry: Other
BirthDay: 9 April 1928
Sigh: Taurus
Died On: 05/01/2016
Children: 2
BIOGRAPHY

Albert Gubay was bornon 9 April 1928 in United Kingdom. Retailer turned real estate guru. Made his first fortune in 1973 when he sold his U.K. discount retail chain Kwik Save for $28 million. Repeated his Kwik Save model in New Zealand, Ireland and the U.S., investing the profits in real estate in places such as Liverpool, Manchester, Sheffield, Hull and tax haven Isle of Man. While recuperating from a bad back, decided to open fitness centers; sold his health club chain Total Fitness (but not the real estate it sits on) for $154 million in 2004. Devout Catholic has pledged his wealth to both religious and secular causes, like the building of new churches and university scholarships for Isle of Man residents.

NET WORTH STATISTIC
2010

$1.1 Billion

2018

$1.1 Billion

TIMELINE
2016

Gubay died aged 87, following a short illness, at his home in Wilmslow, Cheshire, on 5 January 2016

2011

On 23 February 2011, Gubay was invested as Knight Commander with Star of the Order of St

2010

In March 2010 Gubay announced that he was to transfer £470 million of his £480 million personal fortune to a charitable trust

2007

In July 2007, Gubay sold the chain, based mainly in North West England and Ireland, with 21 locations and 150,000 members, to the private equity arm of Legal & General, for £70 million

2006

According to Forbes, in 2006 Gubay had an estimated fortune of approximately GBP500 million (US$1

2005

He was named the top property developer in Wales in 2005

1997

In summer 1997, Gubay told an RTÉ television documentary that he had made a "50-50" deal with God, promising when he was younger and penniless to give half his estate to the Roman Catholic Church, if he succeeded in becoming a millionaire

1990

In 1990, Gubay paid for an extension to Our Lady of the Nativity church in Leixlip, County Kildare, in memory of his mother, Mary Clarke, a native of the area

1980

In the 1980s, Gubay paid for a replacement church at the site of St Anthony's in Onchan, Isle of Man

1973

In 1973, Gubay sold Kwik Save for £14M/$28 million

1971

Gubay and his second wife lived in Santon, Isle of Man since 1971

1970

Just before it was floated on to the London Stock Exchange in November 1970, the company changed its name formally to Kwik Save Discount Group Ltd

1969

1 billion), making him the 698th richest person in the world

1965

The first Kwik Save Discount branded store opened in Prestatyn in 1965, and produced more sales than the existing Value Foods supermarkets

1964

In 1964 Gubay visited the United States with fellow director Ken Nicholson, and learnt about the "baby shark" method of retailing

1959

Gubay founded Value Foods on 11 May 1959 in Prestatyn, and rented its first retail shop in Rhyl in July 1959

1950

When rationing came to an end in the mid-1950s, the confectionery business ran into difficulties and Gubay moved into retailing via market stalls

1928

Born on 9 April 1928 in Rhyl, to an Iraqi Jewish father, and an Irish Roman Catholic mother, Gubay began his business career in North Wales selling non-sugar sweets during post-World War II confectionery rationing

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