Lord Waheed Alli is the multi-millionaire founder and former Managing Director of Planet 24 Television, the makers of the Big Breakfast and The Word.  He and his partner, Charlie Parsons, made £5 million each when Planet 24 was sold to Carlton in March 1999. He is now Managing Director of Production at Carlton, considered an important New Labour asset by the Chairman, Michael Green (a friend of Margaret Thatcher). He has made Labour Party election broadcasts for free and Planet 24 gave the Labour Party £12,500 in 1998. Alli, the former Head of Investment Research at Save & Prosper, was given his peerage in the same year.