David Sainsbury, Baron Sainsbury of Turville
This article includes a list of general references, but it lacks sufficient corresponding inline citations. (September 2022) |
Lord Temporal | |
---|---|
Life peerage 3 October 1997 – 1 July 2021 | |
Personal details | |
Born | David John Sainsbury 24 October 1940 |
Political party | 'Continuing' SDP (1988–90) |
Spouse(s) | Susan Carroll, Lady Sainsbury, DBE |
Relations | Alan Sainsbury (uncle) |
Parent(s) | Robert Sainsbury (father) Lisa van den Bergh (mother) |
Alma mater | King's College, Cambridge (BA) Columbia University (MBA) |
Occupation | Politician |
Profession | Businessman, philanthropist |
David John Sainsbury, Baron Sainsbury of Turville,
He was made a
He is a major donor to the
Early life and business career
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The son of Sir Robert Sainsbury (1906–2000) and Lisa Ingeborg (née van den Bergh; 1912–2014),[5] Sainsbury attended Eton College before going on to earn a degree in History and Psychology at King's College, Cambridge. He then completed an MBA at Columbia Business School in the United States.
Sainsbury joined the family firm, then known as J. Sainsbury Ltd., in 1963, working in the personnel department. He became a director in 1966. He was Financial Controller from 1971 to 1973, just before the company's flotation.
When the company listed on the London Stock Exchange on 12 July 1973, at the time the largest flotation ever, his family retained control with an 85% stake. His father, Sir Robert Sainsbury, gave almost his entire stake in the company to David Sainsbury, his only son, whereas his uncle Alan Sainsbury split his stake in the business between his sons John Davan Sainsbury, Simon Sainsbury, and Tim Sainsbury. John Davan Sainsbury became chairman in 1969 on Sir Robert Sainsbury's retirement.
He was the group's Finance Director from 1973 to 1990, during which time the company grew rapidly. He was chairman of
In 1996, Sainsbury's announced its first drop in profits in 22 years, and the first of three profits warnings during his chairmanship was issued. Although there were senior management changes, which included David relinquishing the chief executive's role to Dino Adriano and becoming non-executive chairman, there were no new directors or outsiders appointed to the senior management team. Profits fell the next year, but rose in 1998. At this point, David Sainsbury, who had wanted to step down at the end of 1997, made a surprise announcement of his retirement as chairman to pursue his long-held ambition to have a career in politics, after "32 enjoyable and fulfilling years" working for Sainsbury's. Sainsbury's share price increased on the day of this announcement.
On his retirement as chairman, to avoid any conflict of interest, David Sainsbury placed his then 23% stake in Sainsbury's into a "blind" trust, to be administered by lawyer Judith Portrait. When David Sainsbury announced his intention to give away £1 billion to charity in 2005, his 23% stake was sold down, eventually to 12.9% by early 2007. His beneficial holding became just 7.75% when he regained control of his shares in February 2007 following his decision to step down as
David Sainsbury retains a sizeable shareholding in his family's supermarket chain (around 5.85%).[6] To further his philanthropy interests, he placed 92million of his shares (representing 5.28% of the Company's share capital), into his investment vehicle, Innotech Advisers Ltd (which donates all its dividends to charity), meaning his beneficial stake is just 0.57% (lower than JD's 1.6% beneficial interest). The Sainsbury family as a whole control approximately 15% of Sainsbury's. In the Sunday Times Rich List 2008 his family fortune was estimated at £1.3 billion.
Political career
Sainsbury joined the Labour Party in the 1960s, but was one of the 100 signatories of the 'Limehouse Declaration' in an advertisement in The Guardian on 5 February 1981;[7] he went on to be a member of the Social Democratic Party (SDP) formed by the authors of the Declaration. After the 1983 election, he prompted the party to give more priority to recruiting members and finding a firm financial base; he was by far the biggest donor to the party, and a trustee,[8] giving about £750,000 between 1981 and 1987. His donations were typically earmarked to specific projects rather than general day-to-day operations.[9]
Along with
Between 1996, the year he rejoined Labour, and 2006, when he stood down as a government minister, Sainsbury donated £16 million to the Labour Party, usually in batches of £1 million or £2 million each year.[12] He donated a further £2 million on 7 September 2007, stating that he was impressed by Gordon Brown's leadership and believed "that Labour is the only party which is committed to delivering both social justice and economic prosperity".[13] He gave another £500,000 on 15 December 2008, making a total of £18.5 million.[citation needed] He is associated with[vague] the Labour Friends of Israel.[14][verification needed]
In April 2006, it was reported Sainsbury "faced a possible probe into an alleged breach of the ministerial code after admitting he had failed to disclose a £2 million loan he had made to the Labour Party – despite publicly stating that he had." He subsequently apologised for "unintentionally" misleading the public, blaming a mix-up between the £2 million loan and a £2 million donation he had made earlier.[15][16]
In July 2006, he became the first government minister to be questioned by police in the "
From July 1998 to November 2006, he held the office of
Because of his importance to the Labour Party as a donor, contemporary press reports described him as "unsackable".[
Sainsbury has also been associated with the
Sainsbury funded the "Remain" side of the 2016 European Union membership referendum campaign,[25] giving £2,150,000 to the Labour and £2,125,000 to the Liberal Democrats "Remain" campaigns.[26]
After the
During the 2019 United Kingdom general election campaign Sainsbury donated £8 million to the Liberal Democrats, over half the party's election funding, making its election donations larger than the Labour Party's.[29]
Sainsbury has been a long-time patron of the socialist society Scientists for Labour.
He ranked 14 out of 50 on the Top 50 Influential Lib Dems of 2020 list – the only non-Lib Dem member to feature.[30]
Charitable works
Sainsbury founded the
In 2003 Sainsbury was granted the Andrew Carnegie Medal for Philanthropy.[35]
Sainsbury has donated £127 million of the Gatsby Charitable Foundation's money to
In 2013, together with his wife Susie, he joined the
Chancellor of the University of Cambridge
In 2011, Sainsbury was formally proposed by the Nominations Board of Cambridge University to succeed the Duke of Edinburgh as
On 2 February 2024, the University announced that Sainsbury had advised of his intention to step down later in the year from his role as Chancellor.[44]
Personal life
Sainsbury and his wife, Susan Carroll (née Reid), a former teacher, have three daughters. Lady Sainsbury is a Trustee of the Royal Academy of Music.[45] She was appointed DBE in the 2022 Birthday Honours, for "services to the Arts, particularly during Covid-19", described in the list as "Philanthropist".[46] The family live in the Manor of Turville in Turville, Buckinghamshire. The Manor once belonged to the abbey at St Albans, but was seized by the Crown in the Dissolution of the Monasteries in 1547. The manor house has since been rebuilt as Turville Park, a fine stately home in the village.[citation needed]
Sainsbury's elder sister was Mrs Elizabeth Clark (19 July 1938 – 14 August 1977), and his younger sisters are Celia and Annabel. He is the nephew of
Academic titles
- In 1994, Sainsbury was appointed as an Honorary Fellow of the Royal Academy of Engineering.[1]
- In 2001, he was elected an international member of the American Philosophical Society.[47]
- In 2003, he was elected to the American Academy of Arts and Sciences.[48]
- In 2007, he was awarded an honorary degree in science by University College London.
- In 2007, he was awarded an honorary doctorate from Heriot-Watt University.[49]
- In 2008, he was awarded an honorary degree in science by the University of Bath.
- In 2008, he was made an honorary fellow of the Royal Society.[50]
See also
- List of billionaires
References
- ^ a b "List of Fellows". Archived from the original on 8 June 2016. Retrieved 30 October 2014., raeng.org.uk. Accessed 8 September 2022.
- ^ "Lord Sainsbury of Turville". UK Parliament. Retrieved 27 August 2016.
- ^ a b "Sainsbury wins Chancellor election". Retrieved 22 October 2018.
- ^ Yorke, Harry (27 February 2020). "Lord Sainsbury gave biggest political donation in history". The Telegraph. Retrieved 28 February 2020.
- JSTOR 3032851.
- ^ "J Sainsbury plc major shareholders". Archived from the original on 29 December 2010.
- ^ Ivor Crewe, Anthony King, "SDP: The Birth, Life and Death of the Social Democratic Party", Oxford University Press, 1995, p. 94.
- ISBN 978-1-84275-177-0.
David Sainsbury, a trustee and major benefactor of the SDP, as well as a dedictated Owenite
- ^ Ivor Crewe, Anthony King, "SDP: The Birth, Life and Death of the Social Democratic Party", Oxford University Press, 1995, p. 249, 251.
- ^ Ivor Crewe, Anthony King, "SDP: The Birth, Life and Death of the Social Democratic Party", Oxford University Press, 1995, p. 422.
- ^ "No. 54914". The London Gazette. 8 October 1997. p. 11339.
- ^ "Cash for honours: What am I bid? £10,000? £1m? A loan, no questions asked?". The Independent. London. 12 March 2006. Archived from the original on 12 November 2012.
- ^ "Lord Sainsbury gives Labour £2m". BBC News. 7 September 2007.
- ^ Pierce, Andrew (18 November 1997). "Blair's chance to raise cash for Pounds 1m refund". The Times.
- ^ "SAINSBURY FACES INQUIRY ABOUT £2m LOAN - FT.com". Archived from the original on 7 May 2015.
- ^ Mulholland, Hélène (19 April 2006). "Falconer defends Sainsbury's loans". The Guardian. London.
- ^ Ministers quizzed in donor probe. BBC News (14 July 2006) (accessed 19 January 2009)
- ^ "Lord Sainsbury quits as minister". 10 November 2006. Retrieved 22 October 2018 – via news.bbc.co.uk.
- ^ Wilson, Graeme (11 November 2006). "Sainsbury quits 'in anger at loans affair'". The Daily Telegraph. London.
- ^ "Sainsbury sets out a different way of operating". The Spectator. Archived from the original on 20 July 2009. Retrieved 24 August 2011.
- ^ Kayte Rath (15 June 2012). "New Labour group Progress rejects GMB union 'outlaw' threat". BBC. Retrieved 16 June 2012.
- ^ "Objectives and strategy". Institute for Government. Archived from the original on 10 October 2009. Retrieved 9 October 2009.
- ^ "Sainsbury-backed Labour groups fined by Electoral Commission". BBC. 13 February 2014. Retrieved 12 November 2014.
- ^ "Electoral Commission fines Progress Ltd and Movement for Change – failure to return impermissible donations". Electoral Commission. 13 February 2014. Retrieved 8 January 2015.
- ^ Gordon, Sarah (23 February 2016). "The public wants to know where companies stand on Brexit". Financial Times. Archived from the original on 10 December 2022. Retrieved 25 February 2016.
Sainsbury is unusually sensitive on the issue because of the close involvement of one of its shareholders, David Sainsbury, in funding the Remain campaign.
- ^ "Lord Sainsbury gives to Labour and Lib Dems". BBC News. 25 August 2016. Retrieved 9 October 2016.
- ^ Stewart, Heather (23 June 2017). "UK's biggest political donor, Lord Sainsbury, to end his contributions". The Guardian. Retrieved 23 June 2017.
- ^ Andrews, Kieran (30 November 2018). "Labour benefactor Lord Sainsbury donates £25,000 to Scottish Conservatives MP". The Times. London. Retrieved 23 April 2020.
- ^ Syal, Rajeev (27 February 2020). "Tories raised three times as much as Labour in pre-election donations". The Guardian. Retrieved 29 February 2020.
- ^ "2020". 18 November 2020. Archived from the original on 10 April 2021. Retrieved 10 April 2021.
- ^ "Homepage". The Gatsby Charitable Foundation. Retrieved 29 June 2011.
- ^ Cookson, Clive. "The billion-pound philanthropist". Financial Times. Archived from the original on 6 May 2015. Retrieved 29 June 2011.
- ^ "Profile: Lord Sainsbury". 10 November 2006. Retrieved 22 October 2018 – via news.bbc.co.uk.
- ^ a b Butterworth, Myra (19 April 2009). "Lord Sainsbury becomes first Briton to donate more than £1 billion to charity". The Daily Telegraph. London. Retrieved 20 April 2009.
- ^ "Sainsbury David John | P/273 - Sainsbury; David John (1940- present); Baron Sainsbury of Turville; Sainsbury Family; Sainsbury's Chairman; politician | The people that made Sainsbury's | People | Sainsbury Archive". www.sainsburyarchive.org.uk. Retrieved 25 August 2021.
- ^ [www.formoda.co.uk], Formoda. "The Queen opens new plant science laboratory at Cambridge – Plant Science". www.plantsci.org.uk. Archived from the original on 22 October 2018. Retrieved 22 October 2018.
- ^ "Sainsbury donates £82m for plant research". Financial Times. 19 November 2008. Archived from the original on 10 December 2022. Retrieved 22 October 2018. (subscription required)
- ^ "The Giving Pledge List". Retrieved 15 April 2015.
- ^ a b "Chancellorship of the University". University of Cambridge. Archived from the original on 26 June 2011. Retrieved 20 May 2011.
- ^ "Mill Road shopkeeper to take on Lord Sainsbury for Chancellorship". Retrieved 22 October 2018.
- ^ "Brian is blessed with 50 backers". Cambridge News. Archived from the original on 10 June 2011. Retrieved 10 June 2011.
- ^ "Brian Blessed bids to be Cambridge chancellor". BBC News. 3 June 2011.
- ^ "Election of the Chancellor". University of Cambridge. Archived from the original on 24 September 2011. Retrieved 24 August 2011.
- ^ "Office of Chancellor" (PDF). Cambridge University Reporter. University of Cambridge. Retrieved 6 February 2024.
- ^ "Governing Body". Royal Academy of Music. Archived from the original on 10 April 2019. Retrieved 10 April 2019.
- ^ "Birthday Honours 2022" (PDF). gov.uk. Retrieved 2 June 2022.
- ^ "APS Member History". search.amphilsoc.org. Retrieved 18 October 2021.
- ^ "David John Sainsbury". American Academy of Arts & Sciences. Retrieved 18 October 2021.
- ^ "Annual Review 2007 : Principal's Review". www1.hw.ac.uk. Archived from the original on 5 March 2016. Retrieved 29 March 2016.
- ^ "Royal Society". royalsociety.org. Retrieved 22 October 2018.
External links
- David Sainsbury, Lord Sainsbury of Turville Official Website
- Gatsby Charitable Foundation
- Lord (David) Sainsbury of Turville – DTI ministers
- The Sainsbury Family and Lord (David) Sainsbury
- Lord (David) Sainsbury interview on Desert Island Discs
- Lord (David) Sainsbury: UK politics profile
- SPEAK – Profile of Lord (David) Sainsbury of Turville
- David Sainsbury Forbes.com: Forbes World's Richest People
- David Sainsbury of Turville and Software Patents Archived 2 May 2013 at the Wayback Machine
- Profile of the Sainsbury family
- The Sainsbury Laboratory funded by The Sainsbury Family Charitable Trusts
- Sainsbury Laboratory Cambridge University
- The Centre for Mental Health, funded by The Sainsbury Family Charitable Trusts