Albert Gubay, Welsh businessman, Died at 87


Albert Gubay, KC*SG was born on April 9, 1928, in Rhyl, Denbighshire, Wales and died on January 5, 2016, in Wilmslow, Cheshire, England.

He was a Welsh businessman and philanthropist,

Albert made his fortune with the Kwik Save retail chain, building it further on investments, mainly in property development.

In 2006, speculations were made that Mr. Gubay had an estimated fortune of approximately GBP500 million (USD1.1 billion), making him the 698th richest person in the world.

He was born to an Iraqi Jewish father and an Irish Roman Catholic mother.

He began his business career in North Wales selling non-sugar sweets during post-World War II confectionery rationing.

However, when rationing came to an end in the mid-1950s, the confectionery business ran into difficulties and Albert moved into retailing via market stalls.

Albert Gubay and his second wife lived in Santon, the Isle of Man since 1971.

Albert had two children with his first wife and was petitioned to stay on the island by locals after threatening to leave for Switzerland as a result of a dispute over taxes.

Albert Gubay passed away at 87 yrs old.