Michael Ashcroft’s profile picture

Michael Ashcroft

Michael Ashcroft’s profile picture
Net worth 2018: $1.72 Billion
Residence: Turks and Caicos Islands
BirthDay: 4 March 1946
Sigh: Aries

Michael Ashcroft was bornon 4 March 1946 in Turks and Caicos Islands, United Kingdom. Michael Ashcroft is #1370 in List Billionaires People In The World. A Conservative party deputy chairman from 2005 to 2010, Michael Ashcroft stepped down from the House of Lords in March 2015. Half a year later, he released "Call Me Dave", an unauthorized biography of British Prime Minister David Cameron. The scathing book included a series of uncorroborated allegations, including drug use and snobby behaviors -- and that the Oxford grad once stuck his private parts into the mouth of a dead pig as a part of an initiation ritual. Ashcroft admitted his disappointment that Cameron did not tap him for a high-ranking post, but insisted the book was not revenge. The businessman's fortune comes from starting and selling numerous companies, including home security giant ADT, which Tyco International bought for $6.7 billion in 1997. Proceeds from that sale still represent the bulk of his wealth.


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Then in 2017 it was revealed following the Paradise Papers leak of offshore investment documents that Lord Ashcroft remained a domicile of Belize despite having claimed to have given up his non-dom tax status in 2010


On 31 March 2015, the day after the prorogation of Parliament ahead of the 2015 general election, he announced his resignation from the House of Lords with immediate effect, stating he would continue in politics


In May 2013, he pledged to donate more than half of his money to good causes, and became a signatory of The Giving Pledge


He was sworn in as a member of the Privy Council of the United Kingdom in 2012, entitling him to use the post-nominal letters "PC" for life


Ashcroft has also supported military causes; in September 2011 he hosted a reception at the House of Lords for the launch of the Felix Fund, the charity for bomb disposal experts and their families


He was nominated by Conservative party leader William Hague on the condition that he became a UK resident although at the beginning of 2010 he announced his "non-domiciled" tax status


On 12 October 2009, Lord Ashcroft pledged NZ$50,000 for the safe return of two-year-old toddler Aisling Symes


"In 2008, The Economist ran an article on the web of loans and court cases surrounding Belize Bank (owned by Ashcroft), a private hospital company called Universal Health Services and the government of Belize


Following the theft of a number of Victoria Crosses awarded to New Zealand servicemen from the Army Museum at Waiouru in late 2007, Ashcroft pledged NZ$200,000 for their return


The campaign coincided with the 2006 International Whaling Commission conference in St Kitts


"In December 2005, he was appointed Deputy Chairman of the Conservative Party


Lord Ashcroft has become a significant figure in Australian politics having been identified as the single largest individual donor to any Australian political party during the Financial Year 2004/2005


In 2003, Ashcroft was criticised by the High Court judge, Mr Justice Peter Smith in Rock (Nominees) Ltd v RCO (Holdings) Plc


Ashcroft nevertheless continued as a non-executive director of Tyco, a role he still held in 2002 when Tyco CEO Dennis Kozlowski was arrested in New York in connection with personal tax offences


Ashcroft has been Chancellor of Anglia Ruskin University since November 2001


In the 2000 Queen's Birthday Honours, on the advice of the Belizean government, he was appointed Knight Commander of the Order of St Michael and St George (KCMG) "for public service to the community and country" of Belize


In 1999, he was given the Honorary Degree of Doctor of the University by Anglia Ruskin University, he would be named Chancellor of the University in 2001


He owns two 150-foot (46 m) yachts, both registered in Belize:In the UK, he was a major donor to and Treasurer of the Conservative Party from 1998 to 2001, under William Hague


Bought in 1997 for $1, he agreed the sale of the company at a value of £179m


In 1995, to allow for the Tyco transaction, the group decided to divest itself of BCA


Cope Allman was eventually sold to an MBO backed by Hawley and financed by Bain Capital, and then sold to Bowater in 1992 in a complex swap of assets with ADT/Hawley


Wickins joined the board of Hawley Goodall, remaining there until the Tyco takeover, but retired from BCA in 1990


In 1989, Hawley Goodall sold its Motoring Division consisting of Henlys and Coleman Milne to the Plaxton Group, the bus and coach manufacturer based in Scarborough, North Yorkshire


Based mainly in the USA, it was the old North American cleaning business of ISS that Ashcroft had sold to them when refocusing Hawley in 1987


In 1985 Ashcroft and Wickins bought car sales dealership Henlys Group via a Canadian-registered company, Mipec


Seeing the opportunity to build an off-shore operations base and control the country's financial service, in 1984 Ashcroft formed Belize Holdings (BHI), which became the vehicle for a parallel acquisition spree during the 1980s, beyond the scope of Hawley


By early 1983, Hawley had built up a 20% stake in pharmaceutical packaging manufacturer Cope Allman


In 1981, Belize had gained independence from the UK


By the late 1980s, BHI had become one of the largest holding companies in Belize, with direct interests in or holdings via main operating company Stargate Ltd, ranging from telecommunications, property, the Belize shipping register, and citrus fruits


On exiting Uni-Kleen in 1977, his next purchase was Hawley Goodall, another poorly performing company, this time in camping equipment manufacture


His first acquisition was Uni-Kleen – a loss-making cleaning company with one thousand employees, which he purchased for just £1 in 1974, with a £15,000 bank loan (or £176,780 in 2014-inflation adjusted terms)


In April 1972, Ashcroft married Wendy Burrell in Hampstead, north London


He left in 1969, joining Pritchard Group Services, after several months unemployed


In 1967, Ashcroft joined Carreras Tobacco as a management trainee


Ashcroft, Baron Ashcroft, KCMG, PC (born 4 March 1946) is a British-Belizean businessman and politician


His collection is by far the largest in the world spanning 128 years from acts of valour at the start of the Crimean War in 1854 to an act of courage during the Falklands War in 1982

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