Lord Sugar has had an impressive rags-to-riches journey – from being born in an East London council flat to becoming a billionaire but it seems his success got him nowhere when needing to organise some banking
Sir Alan Sugar was not impressed with the bank(Image: (Photo by Artur Widak/NurPhoto via Getty Images))
Billionaire Lord Alan Sugar has hit out at American Express after he was refused a credit limit increase.
Lord Sugar has an estimated net worth of roughly £1.1 billion to £1.3 billion, according to the Sunday Times Rich List 2026. Yet it seems even Billionaires struggle with increasing their credit limits.
The business tycoon, 79, and face of BBC’s The Apprentice, has had an impressive rags-to-riches journey – from being born in an East London council flat to becoming a billionaire in 2015.
But while his staggering bank account has helped him travel the world and live an extremely comfortable life he has had his fair share of struggles and stresses over the years.
In Alan’s autobiography, published in 2010, the businessman confesses that he actually feels he “fell a long way short” as a father and son. He shares three grown-up children with his wife, Ann Simons – Daniel, Simon and Louise – but has had ‘regrets’ about their upbringing. He admits to having been “too selfish” to spend enough time with his children or elderly mother.
The year 2020 was a difficult one for Lord Sugar who lost both his older sister Shirley and brother Derek.
More recently Lord Sugar has struggled with his banking and taking to X he has publicly slammed American Express and blamed “their system” for rejecting his credit limit increase.
Taking to X Lord Sugar wrote: “I spent a hour on the phone with American Express. I was passed to 4 different people. I was asking for an increase in my credit limit. Finally I got to speak to a person in the UK at Brighton who knew who I was and my financial status. However my request was refused due to their system.”
One X user commented: “If you’re worth £1.1billion why do you need credit?” To which Lord Sugar replied and reposted: “DO PRACTICE BEING AN IDIOT. I DON’T WALK AROUND WITH BAGS FULL OF CASH. I NEED A CREDIT CARD TO BUY THINGS.”
Another X user wrote: “If even Lord Sugar gets bounced around for an hour and then rejected by ‘the system’, what hope is there for the rest of us mere mortals? Classic bank experience.”
In a more positive light another X user wtote: “Have had @AmericanExpress @AmexUK with no upper limit for years, they have been the best card company so far in every way possible Hopefully they fix it for you @Lord_Sugar soon.”
The Mirror has contacted American Express for comment.
