Anthony Sabga was a Syrian businessman and philanthropist. He was the Chairman Emeritus of the Ansa McAL Group of Companies.
Anthony Sabga Net Worth
Anthony Sabga’s net worth is around $20 billion USD at the time of his death. He started his company, then called ANSA Industries, in 1966. In the 1980’s Ansa merged with McEnearney and Co. and Alston’s Ltd., creating ANSA McAL. ANSA McAL is listed on the Trinidad and Tobago Stock Exchange (TTSE: AMCL) and is one of the largest conglomerates in the Caribbean.
After Sabga’s success with ANSA Industries, which made refrigerators, televisions and other household appliances, he pursued other business opportunities in the garment industry and real estate development which further improved his net worth.
Anthony Norman Sabga was born in Syria in 1923. He is the second of three sons of Norman Sabga. They were among the last of the Christian immigrants from the former Ottoman Empire. They came to Trinidad and Tobago after fleeing from religious persecution in 1930. He was only 13 during this time.
They lived on Duncan Street in Port of Spain where he attended Nelson Street Boys R.C. School.
When he was 14 years old, his father got sick and returned to Syria. He and his older brothers ran their family haberdashery business called N.S. Sabga and Sons.
In September 1948 Anthony Sabga married Minerva Sabga. They were blessed with six children who are Linda, Norman, Jo-Ann, David, Donna Marie and Andrew.
After some time running their family’s garment business with his two brothers, Anthony Sabga decided to leave and establish his own company.
It was in the year 1966, when Ansa Industries was founded. This is due to Trinidad and Tobago’s government’s effort to industrialize the country after Independence in 1962 legislation was passed. This made it possible to continue importing refrigerators.
The company was established to locally manufacture refrigerators, cookers and other home electrical appliances through licensing agreements with Admiral Corporation of the United States. This also included Hitachi radios from Japan, Blaupunkt which mainly makes stereo equipment, and Bompani cookers from Modena, Italy.
The success of his venture allowed Anthony Sabga to win the first Prime Minister’s Award for Export Performance in 1968.
As his business continued to grow, he established subsidiaries in other Caribbean islands. He also expanded his business and ventured into publishing and printing which was an untapped market in the country.
Around 1980’s, the country went into a recession and Ansa decided to merge with McEnearney and Co. and Alston’s Ltd., creating ANSA McAL. The company became a regional leader in manufacturing, distribution, packaging, services, shipping, automotives, media, travel, banking, insurance, real estate, and energy.
In 1998, he got The Chaconia Medal Gold. In 2002, he received an award namely the Trinidad and Tobago Icons of the Nation in the category: Thinkers, Movers and Shapers.
In 2005, the business titan established the Anthony N. Sabga Caribbean Awards for Excellence which aims to recognize outstanding individuals in the Caribbean region. The categories include Arts & Letters, Science & Technology, and Public & Civic Contributions.
His family members are also involved in the business. Norman is the group Chairman and Chief Executive, David is the Deputy Group Chairman, and Andrew is the Chief Executive Officer of Caribbean Development Company and Carib Brewery. Minerva Sabga is a non-executive Director of the ANSA Group. Lastly, his daughter, Linda Sabga-Hadeed is a Director on the Board of the ANSA McAL Foundation.
Anthony Sabga Marriage History
Anthony Sabga married Minerva Sabga in September 1948. From their long and happy marriage, they were blessed with six children – Linda, Norman, Jo-Ann, David, Donna Marie and Andrew.