Michael Ashcroft

Michael Ashcroft, Baron Ashcroft
Born	(1946-03-04) March 4, 1946 Chichester, West Sussex, England
Occupation(s)	Businessman, pollster, politician
Known for	Deputy chairman of the Conservative Party; founder of Michael A. Ashcroft Associates; major shareholder in various companies

Michael Anthony Ashcroft, Baron Ashcroft, born on 4 March 1946, is a businessman, pollster, and politician with British and Belizean ties. He previously served as deputy chairman of the Conservative Party. In 1972, he established Michael A. Ashcroft Associates, and by 2021, the Sunday Times Rich List ranked him as the 132nd wealthiest individual in the UK, estimating his net worth at £1.257 billion.

Elevated to the peerage as a life peer in 2000, Ashcroft took his seat on the Conservative benches in the House of Lords until his resignation in 2015. The Cabinet Office announced that he would establish permanent residence in the UK for tax reasons; however, subsequent reports suggested this had not been fulfilled. He holds dual citizenship of Britain and Belize and possesses belonger status in the Turks and Caicos Islands.

Early life and education

Michael Anthony Ashcroft was born in Chichester, West Sussex. His father, Eric, served as a British colonial civil servant, which led to Ashcroft spending his formative years in British Honduras (present-day Belize) and Malawi.

His education included time at Norwich School, Royal Grammar School, High Wycombe, and Mid-Essex Technical College (now known as Anglia Ruskin University), where he obtained a Higher National Diploma in Business studies.

Business career

Following his studies, Ashcroft spent some time in Belize before hitchhiking across Europe and briefly managing a rock band.

In 1967, he began working as a management trainee at Carreras Tobacco. After departing in 1969, he joined Pritchard Services Group. At age 26, in 1972, he founded Michael A. Ashcroft Associates to focus on acquisitions.

Acquisitions and divestments

Ashcroft’s initial purchase was Uni-Kleen, a cleaning company losing money with a workforce of 1,000 employees. Acquired for £1 in 1974 using a £15,000 bank loan, he successfully revitalized the company and sold it three years later for £1.3 million.

Following that, he bought Hawley Goodall, a camping equipment manufacturer facing difficulties. He transformed it into a diversified business services enterprise encompassing janitorial services and car auctions. The sale of the car auctions segment to British Car Auctions (BCA) established a long-term collaboration with David Wickins. By 1981, Hawley had expanded into the U.S., generating revenues of $27 million.

In early 1983, Hawley acquired a 20% shareholding in pharmaceutical packaging company Cope Allman, later increasing it to 29.9% following regulatory review. Together with BCA’s holdings, this amounted to control over 43.5%, allowing strategic influence without launching a full takeover bid. Cope Allman was eventually sold through a management buyout backed by Hawley and financed by Bain Capital before being sold to Bowater in 1992.

In 1985, Ashcroft and Wickins purchased Henlys Group via Mipec, which was controlled by Hawley Goodall. Henlys merged with funeral hearse manufacturer Coleman Milne to create a motoring division that was disposed of to Plaxton Group in 1989.

A significant year was 1987 when Hawley acquired Crime Control Inc. for $50 million, becoming the fourth-largest security firm in the U.S. Later that year, it also bought ADT Security Services—the largest electronic security company in America—transforming Hawley into a leading North American security services provider. The company rebranded as ADT Inc., divesting its non-core facility services to Denmark’s ISS A/S.

Also during 1987, Ashcroft bought out Wickins’ shareholders at BCA through Hawley Goodall. Although Wickins had interests in aviation assets based at Blackbushe Airport, Ashcroft quickly disposed of these holdings. Wickins remained on Hawley’s board until Tyco’s acquisition and retired from BCA in 1990. In 1995 BCA was sold: its North American operations were sold to trade buyers while European parts were sold to private investors including Ashcroft’s Belize-based company. In September 2006 BCA was acquired by Samuel Montagu & Co., an HSBC investment banking entity, earning Ashcroft over £200 million.

In 1997 ADT was sold via reverse takeover to U.S.-based Tyco International for $6.7 billion; this allowed Tyco to achieve tax benefits.

Following the sale, Ashcroft liquidated much of his Tyco shares to diversify his portfolio but remained a non-executive director until at least 2002 during CEO Dennis Kozlowski’s legal controversies. He also played a role in appointing legal counsel to investigate corporate misconduct at Tyco.

Belize and cross holdings

Ashcroft maintains extensive business connections in Belize, where he acted as the country's ambassador to the United Nations between 1998 and 2000. In 2009, Belize's Prime Minister Dean Barrow characterized Ashcroft as an exceptionally influential individual whose personal wealth rivals the nation's entire GDP, advising caution regarding his considerable sway. Barrow also cautioned UK Prime Minister David Cameron that appointing Ashcroft to a senior government position could jeopardize diplomatic relations between the UK and Belize.

Belize Holdings (BHI) was founded by Ashcroft in 1984. Three years later, in 1987, BHI spearheaded the formation of Belize Bank Holdings (BBH), which took ownership of Belize Bank from the Royal Bank of Canada. Today, Belize Bank stands as the largest financial institution in the country, commanding approximately half of the market share. BBH diversified its operations into sectors such as facilities management, financial services, and telecommunications. Notably, Belize Bank formerly held a controlling interest in Belize Telemedia Limited (BTL) prior to its nationalization by the Belizean government.

Other business activities

Ashcroft possesses substantial equity stakes in various companies listed on the Alternative Investment Market (AIM), including Restore plc, WeAre20:20, and Impellam Group.

Following an initial attempt to acquire Corporate Services Group in 1999, Ashcroft raised his ownership to 28.5% by 2006, intensifying speculation over a potential full takeover. The merger of Carlisle Group and Corporate Services Group in 2008 resulted in the creation of Impellam Group, consolidating recruitment services under a unified corporate structure.

In September 2007, Ashcroft divested from OneSource, an AIM-listed cleaning services company primarily operating in the United States. Having originally purchased it in 1997 for $1, he sold it for £179 million.

In March 2006, Ashcroft became the principal shareholder of Watford F.C., holding up to 42% of its shares. Later that year, he accepted a £450 million offer for British Car Auctions (BCA), generating an estimated personal profit of around £200 million.

Since acquiring a majority stake of 72.3% in Gusbourne, an English producer of sparkling wine, for £7 million in 2013, Ashcroft has broadened his portfolio to include premium beverages.

Personal life

Ashcroft married Wendy Mahoney in April 1972; they had two sons and one daughter before divorcing in 1984. He remarried Susan Anstey in 1986. The couple maintain homes in London, Maidenhead, and Belize.

He owns a Dassault Falcon 7X private jet registered as VP-BZE under his Bermudian company Flying Lion. In December 2017, this aircraft sustained damage after rolling off the apron at Malta International Airport when strong winds displaced its wheel chocks; fortunately, no injuries occurred.

Additionally, Ashcroft possesses two yachts measuring 150 feet each and registered in Belize:

• Lady M – constructed in the Netherlands
• Atlantic Goose – originally built in 1987 by Tough Brothers on the River Thames for Sir Donald Gosling under the name Brave Goose

Conservative Party

Within the United Kingdom, Ashcroft was a prominent donor and served as Treasurer of the Conservative Party from 1998 until 2001 during William Hague's leadership. His tenure was marked by controversy surrounding his minimal UK income tax contributions due to his domicile status in Belize and debates over transparency in political donations. In 1999, he settled a libel action against The Times, which acknowledged there was no evidence implicating Ashcroft or his businesses in any wrongdoing.

In 2004, Ashcroft clashed with Conservative leader Michael Howard by proposing a £2 million donation designated for particular candidates rather than general party funds; he stated in 2005 that he preferred to ensure his "investment is wisely placed."

Appointed Deputy Chairman of the Conservative Party in December 2005, he loaned £3.6 million amid the "Cash for Peerages" controversy in 2006. Contributions amounting to £5.1 million from Bearwood Corporate Services—under Ashcroft's control—between 2003 and 2008 were scrutinized by the Electoral Commission regarding their legitimacy. Critics expressed concerns about offshore financing influencing democratic processes; however, in March 2010, the Electoral Commission ruled these donations as "legal and permissible."

On March 1, 2010, Ashcroft publicly confirmed his non-UK domicile status for tax purposes. Following this disclosure, the House of Commons Public Administration Select Committee initiated a special inquiry into his peerage and tax arrangements; reportedly, Conservative MPs chose not to participate.

He stepped down as Deputy Chairman in September 2010 after releasing Minority Verdict, a critical examination of the Conservative Party's inability to secure an outright majority in the 2010 general election that led to a coalition government with the Liberal Democrats. MP Michael Fallon succeeded him.

By 2012, The Daily Telegraph credited Ashcroft—owner of ConservativeHome and PoliticsHome—with steering Conservative Party policies toward more right-wing positions on Europe, welfare reform, education, and taxation. This shift significantly challenged Coalition unity. Despite holding no ministerial office after the 2010 election, Ashcroft retained considerable influence through digital media platforms where he openly criticized Coalition compromises. This divergence undermined Prime Minister Cameron’s vision of liberal conservatism and governance cohesion.

Ashcroft was also the largest financial backer for Conservative candidate Shaun Bailey during the 2021 London mayoral election, contributing £100,000 out of £255,000 raised.

In 2022, he authored a book attributing adverse influence on then-Prime Minister Boris Johnson to Johnson’s wife Carrie Symonds.

Peerage

On 31 March 2000, Ashcroft was granted a life peerage, acquiring the title Baron Ashcroft, of Chichester in the County of West Sussex. This peerage, officially announced on 20 October 2000, marked the final creation of a peerage for the millennium. His nomination came from Conservative leader William Hague, contingent upon Ashcroft becoming a UK resident; nonetheless, he retained "non-domiciled" tax status as of early 2010. Initially, Ashcroft planned to adopt the title "Baron Ashcroft of Belize," which generated some controversy, but ultimately the title was simplified to "Baron Ashcroft".

Following the prorogation of Parliament before the 2015 general election, he resigned from the House of Lords on 31 March 2015 with immediate effect, declaring his intention to pursue political engagement outside the parliamentary chamber.

Belize

Reports indicate that Ashcroft contributed $1 million to Belize's People's United Party during its tenure in opposition. While in government, this party passed legislation that critics and media outlets alleged financially advantaged Ashcroft.

Australia

In Australian politics, Ashcroft became a prominent donor, recognized as the largest individual contributor to any political party during the 2004–05 fiscal year. The Australian Electoral Commission documented a $1 million donation from him to the Liberal Party in September 2004, shortly before the federal election—then recorded as the largest private political donation in Australian history. Additional donations included $250,000 in July 2010 and again in September 2013.

UK electoral polling

Since assuming the role of Conservative Party Deputy Chairman in 2010, Lord Ashcroft has gained recognition as a prominent independent pollster specializing in British political sentiment. His company, Lord Ashcroft Polls, is distinguished for conducting polling at the constituency level—a practice uncommon within UK electoral analysis. The polling data are published online and frequently referenced by major media organizations, contributing to greater transparency and influence in political discourse.

Charity and philanthropy

By 2013, Ashcroft had contributed tens of millions of pounds toward various charitable endeavors. That same year, he committed to donating more than half of his fortune by joining The Giving Pledge, thereby affirming his dedication to substantial philanthropic efforts.

Anti-crime supporter

Ashcroft is both founder and chairman of Crimestoppers.

On 12 October 2009, he pledged NZ$50,000 as a reward for information leading to the safe return of two-year-old Aisling Symes, who had disappeared in West Auckland, New Zealand.

In 2022, he offered a £100,000 reward related to the investigation into the gunman responsible for the death of Olivia Pratt-Korbel in Liverpool.

Education

From November 2001 until January 2021, Ashcroft held the position of Chancellor at Anglia Ruskin University. He donated £5 million in 1999 to establish the university’s business school located in Chelmsford—formerly known as the Lord Ashcroft International Business School—and provided an additional £5 million in 2009 to support construction of a new business school facility in Cambridge. The Lord Ashcroft Buildings opened in Chelmsford (2003) and Cambridge (2011), respectively. The business school is currently designated as the Faculty of Business and Law.

He is a sponsor of Ashcroft Technology Academy in Wandsworth, a state secondary academy within England’s academy programme.

Together with Stephan Shakespeare, CEO and co-founder of YouGov, Ashcroft became a key investor in Flooved, an educational technology startup.

He distributed copies of Britain's Treasure Islands to every secondary school across the United Kingdom and its overseas territories.

Additionally, Ashcroft serves as an Ambassador for SkillForce, an education and veterans charity responsible for creating the Prince William Award.

Jacob's Ladder on Saint Helena Island

In 2022, Ashcroft financed the refurbishment of Jacob's Ladder (Saint Helena), a concrete staircase featuring 699 steps carved into a steep valley on Saint Helena Island in the South Atlantic. A commemorative plaque honors Ashcroft’s contribution, dedicated to his father who once carried him up the entire staircase during his childhood.

Environmental Advocacy

As an avid whale watcher, Ashcroft has provided financial backing to various environmental organizations and initiatives. He supported the Environmental Investigation Agency in a televised campaign broadcast across six Caribbean nations, urging these countries to cease their endorsement of whaling activities. These nations were recipients of approximately $16 million annually in fisheries aid from Japan. The campaign coincided with the 2006 International Whaling Commission meeting held in St Kitts.

Support for Military Causes

Ashcroft has demonstrated commitment to military-related charities, hosting a reception at the House of Lords in 2011 to mark the launch of the Felix Fund, which aids bomb disposal personnel and their families. He donated all proceeds from his book Special Forces Heroes to Help for Heroes, while royalties from George Cross Heroes were given to the Victoria Cross and George Cross Association. Furthermore, he contributed £1 million toward the £7 million funding goal for the Bomber Command Memorial located in London's Green Park.

Victoria Cross Collection

Ashcroft possesses the largest private collection of Victoria Cross medals globally, representing acts of bravery across multiple armed forces over a period of 128 years, from the Crimean War (1854) through to the Falklands War (1982). To commemorate the 150th anniversary of the VC, he authored Victoria Cross Heroes.

Following a 2007 burglary at New Zealand's Army Museum that resulted in the theft of Victoria Crosses including Charles Upham's VC & Bar, Ashcroft offered NZ$200,000 as a reward for their recovery. After their retrieval, he pledged an additional NZ$200,000 for information leading to successful prosecutions.

In July 2008, Ashcroft donated £5 million to create a dedicated gallery at the Imperial War Museum, showcasing its collection of fifty Victoria Crosses alongside his own assemblage exceeding 200 VCs and several George Crosses. The Lord Ashcroft Gallery is set to close on 1 June 2025.

Tax Residency

Ashcroft has been characterized as a "tax exile", residing in the UK under the contentious non-domiciled tax status for many years. Upon receiving his peerage, officials from the Cabinet Office indicated he would establish permanent UK tax residency—a commitment described as both a "pledge" and a "gentleman's agreement"—yet he only formally adopted this status ten years later. In 2010, following legislative changes, Ashcroft relinquished his non-dom status to maintain his seat in the House of Lords. However, documents from the 2017 Paradise Papers leak revealed that he retained domicile status in Belize despite earlier assertions. Between 2000 and 2010, Ashcroft received approximately from an offshore trust based in Bermuda without paying UK taxes on these funds due to his non-dom classification.

U.S. DEA Information Leak

In 1999, during Ashcroft’s initial nomination to the House of Lords by Conservative leader William Hague, confidential information originating from Jonathan Randel, an intelligence officer with the U.S. Drug Enforcement Administration, was leaked publicly. Randel’s disclosures included Ashcroft’s name within DEA records; however, Ashcroft was among millions whose names appeared routinely. Randel claimed that DEA investigations into money laundering had overlooked Ashcroft—allegations that appeared on The Times front page. Subsequent inquiries under the US Freedom of Information Act confirmed that Ashcroft was never personally investigated by the DEA.

After his second nomination to the Lords, Ashcroft initiated legal action against The Times in High Court proceedings. The matter concluded with an out-of-court agreement requiring Rupert Murdoch to issue a full front-page apology. Ashcroft recounted his version of events in his publication Dirty Politics, Dirty Times.

Business approach

In 2003, High Court judge Peter Smith criticized Ashcroft's methods during the acquisition of cleaning firm RCO by Danish company ISS in the case Rock (Nominees) Ltd v RCO (Holdings) Plc. Smith condemned Ashcroft's actions as "blackmail" rather than the softer term "greenmail," arguing that such conduct harms the City's reputation by generating offshore earnings without genuine risk. He observed that Ashcroft aimed to secure millions beyond a modest initial gain. Ashcroft rejected this charge, likening it to sharing a carriage with an intoxicated individual.

In 2008, The Economist spotlighted intricate loan arrangements and legal conflicts involving Belize Bank—owned by Ashcroft—Universal Health Services, and the Belize government. Accusations surfaced that Belize Bank misused Venezuelan funds originally allocated for housing to pay off UHS liabilities, with secret guarantees reportedly provided by Belize’s prime minister.

According to The Guardian, allegations emerged that Ashcroft circumvented VAT payments on opinion polls by channeling invoices through a Belize-registered company under his ownership, potentially evading more than £40,000 in VAT.

In 2012, BBC's Panorama claimed Ashcroft retained control over Caribbean construction firm Johnston International following its 1999 sale until its insolvency in 2010, despite his denials of ownership and refusal to address questions about ongoing influence.

Call Me Dave

Ashcroft’s book Call Me Dave: The Unauthorised Biography of David Cameron, released on 5 October 2015, was met with criticism from Conservative Party insiders for purported inaccuracies. The Prime Minister’s office asserted that Ashcroft published the biography as an act of retaliation aimed at damaging Cameron’s public image over perceived grievances.

Honours

In the 2000 Birthday Honours, upon recommendation from the Belizean government, Ashcroft was appointed Knight Commander of the Order of St Michael and St George (KCMG) "for public service to Belize".

He was awarded an honorary Doctor of the University degree by Anglia Ruskin University in 1999 and held the position of chancellor there from 2001 until 2021, playing a key role in the university’s development.

In 2012, he was sworn into the Privy Council of the United Kingdom, granting him lifelong entitlement to use the post-nominal letters "PC". That same December, he was honored with the Knight Grand Cross of the Order of the Holy Trinity (Ethiopia) by the Crown Council of Ethiopia.

• Knight Commander, Order of St Michael and St George (2000)

  Grand Cross, Order of the Holy Trinity (Ethiopia) (2012)

Books

• Dirty politics Dirty times: My fight with Wapping and New Labour, 2005, Biteback
• Smell the Coffee: A Wakeup Call for the Conservative Party, 2005, Politico's
• Victoria Cross Heroes, 2007, Headline; foreword by the Prince of Wales
• Special Forces Heroes: Extraordinary True Stories of Daring and Valour, 2009, Headline
• Minority Verdict: The Conservative Party, the voters and the 2010 election, 2010, Biteback
• George Cross Heroes, 2010, Headline
• It's Not You, It's Them: Research to remind politicians what matters, 2012, Biteback
• Degrees of Separation: Ethnic minority voters and the Conservative Party, 2012, Biteback
• The Armed Forces & Society: The military in Britain through the eyes of Service personnel, employers and the public, 2013, Biteback
• Heroes of the Skies, 2013, Headline
• Special Ops Heroes, 2014, Headline
• Pay Me Forty Quid and I'll Tell You: The 2015 election campaign through the eyes of voters, with Kevin Culwick, 2015, Biteback
• Call Me Dave: The unauthorised biography of David Cameron, with Isabel Oakeshott, 2015, Biteback
• Well, You Did Ask...: Why the UK voted to leave the EU, with Kevin Culwick, 2016, Biteback
• Victoria Cross Heroes Volume II, 2016, Biteback
• Jacob's Ladder: The Unauthorised Biography of Jacob Rees-Mogg, 2019, Biteback
• Going for Broke: The Rise of Rishi Sunak, 2020, Biteback
• First Lady: Intrigue at the Court of Carrie and Boris Johnson, 2022, Biteback

External links

• Lord Ashcroft Foundation
• Register of Lords' interests
• The Times libel clarification, 5 June 2003
• Examination of Ashcroft’s Non-Dom tax status, March 2010