Michael Ashcroft

Lord Michael Anthony Ashcroft debuts as a billionaire on this year's list. A serial entrepreneur, Ashcroft started numerous companies and sold before their bottoms fell out. His most significant acquisition was camping equipment manufacturer Hawley-Goodall, which he transformed into one of the security industry's leading firms through the acquisition of U.S. security firm ADT Security Services. Ashcroft's wealth comes from selling ADT to Tyco in a multi-billion dollar reverse merger, landing him a windfall in Tyco shares, which he later sold. His fortune has grown over the years as he sold companies and shares. Ashcroft once served as the Deputy Chairman of the Conservative Party and is a loyal supporter. Lately, though, his British Caribbean Bank has come under scrutiny for its role as creditor to a Oxford Ventures, a company in the Turks and Caicos Islands that collapsed and that reportedly, Ashcroft secretly controlled. Ashcroft sued the UK's Independent newspaper for libel over its 2009 reports on the business matters.