Early Life and Education
Michael Anthony Ashcroft was born on March 4, 1946, in Chichester, West Sussex, England. His father was a British colonial civil servant, which led to the family living in British Honduras (now Belize) and Malawi during his childhood. He attended Norwich School and Royal Grammar School, High Wycombe, before studying at Anglia Ruskin University.
Rise to Success
Ashcroft began his business career in 1972, founding Michael A. Ashcroft Associates. He made several profitable acquisitions and divestments throughout his career. His early acquisitions included Uni-Kleen, which he purchased for £1 and sold for £1.3 million. Ashcroft also acquired Hawley Goodall, which he later expanded. In 1987, he purchased ADT Security Services, and later sold it in 1997 to Tyco International for $6.7 billion, which formed a large part of his fortune.
Key Business Strategies
Ashcroft's business strategy focused on identifying and acquiring underperforming companies, restructuring them, and then selling them for a profit. This approach was particularly successful with ADT Security Services. He has also invested in various companies through his holdings.
Philanthropy
Ashcroft is a committed philanthropist. He founded Crimestoppers in 1985. He signed The Giving Pledge in 2013, committing to donate the majority of his wealth to charity. Through the Michael A Ashcroft Foundation, he supports education, health, and sports charities in the Caribbean and Central America. He founded the Lord Ashcroft International Business School at Anglia Ruskin University.