David Sainsbury
Name: David Sainsbury
Real Name: David Sainsbury, Baron Sainsbury of Turville
Occupation: Retail
Gender: Male
Birth Day: October 24, 1940
Age: 80
Country: United Kingdom
Zodiac Sign: Scorpio

Social Accounts

David Sainsbury

David Sainsbury was born on October 24, 1940 in United Kingdom (80 years old). David Sainsbury is a Retail, zodiac sign: Scorpio. Nationality: United Kingdom. Approx. Net Worth: $1.1 Billion. With the net worth of $1.1 Billion, David Sainsbury is the #1139 richest person on earth all the time in our database.

Net Worth 2020

$1.1 Billion
Find out more about David Sainsbury net worth here.

Family Members

# Name Relationship Net Worth Salary Age Occupation
#1 Clare Sainsbury Children N/A N/A N/A
#2 Francesca Elizabeth Sainsbury Children N/A N/A N/A
#3 Clare Natasha Sainsbury Children N/A N/A N/A
#4 Anya Lucy Sainsbury Children N/A N/A N/A
#5 Francesca Sainsbury Children N/A N/A N/A
#6 Lisa van den Bergh Parents N/A N/A N/A
#7 Robert Sainsbury Parents N/A N/A N/A

Physique

Height Weight Hair Colour Eye Colour Blood Type Tattoo(s)
N/A N/A N/A N/A N/A N/A

Biography

Biography Timeline

1963

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.

1967

Sainsbury founded the Gatsby Charitable Foundation in 1967. In 1993, he donated £200 million of Sainsbury's shares to the Foundation's assets. By 2009 the foundation had given £660 million to a range of charitable causes. In 2009, he allocated a further £465 million to the foundation, making him the first Briton to donate more than £1 billion to charity. He set up the Sainsbury Management Fellowship scheme in 1987 to develop UK engineers into leaders in industry.

1973

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.

1981

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; he went on to be a member of the Social Democratic Party 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, giving about £750,000 between 1981 and 1987. His donations were typically earmarked to specific projects rather than general day-to-day operations.

1988

Along with David Owen, Sainsbury opposed merging the SDP with the Liberal Party after the 1987 election, and provided office space for Owen to help him re-establish a separate political party, which was created in 1988.

1990

The "continuing" SDP was wound up in 1990, and Sainsbury changed allegiance back to the Labour Party, rejoining them in 1996. A year later, following the Labour Party's election victory, he entered the House of Lords as a Labour peer, being created Baron Sainsbury of Turville, of Turville in the County of Buckinghamshire, on 3 October 1997.

1992

He was the group's Finance Director from 1973 to 1990, during which time the company grew rapidly. He was Chair of Savacentre from 1984 to 1993, during which time the hypermarkets business grew slowly. He was deputy chairman from 1988 to 1992. On JD Sainsbury's retirement as chairman and chief executive on 2 November 1992, David Sainsbury became chairman.

1996

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.

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. 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". He gave another £500,000 on 15 December 2008, making a total of £18.5 million. He is associated with the Labour Friends of Israel.

1998

From July 1998 to November 2006, he held the post of Parliamentary Under-Secretary of State at the Department of Trade and Industry, as the Minister for Science and Innovation in the House of Lords, a government position for which he accepted no salary.

2005

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 Science and Innovation Minister in November 2006. During the private equity takeover bid in the first half of 2007, David indicated he was willing to let the Sainsbury's board open its books for due diligence if someone offered him a price of 600 pence per share or more.

Sainsbury has donated £127 million of the Gatsby Charitable Foundation's money to Cambridge University in the last decade: he gave £45 million to the Cambridge University Botanic Garden in 2005. In 2011, Cambridge's Sainsbury Laboratory opened, paid for by an £82 million donation from the Gatsby Foundation made in 2008. It was said by the Financial Times to be "one of the biggest donations ever made to a British university ... surpassed only by a 2000 gift to the university by the Bill and Melinda Gates Foundation."

2006

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.

In July 2006, he became the first government minister to be questioned by police in the "Cash for Peerages" inquiry. On 10 November 2006, he resigned as Science Minister, stating that he wanted to focus on business and charity work. He categorically denied that his resignation had anything to do with the "Cash for Peerages" affair, although this was contradicted by subsequent press reports attributed to "Labour insiders" which suggested that his resignation was indeed a direct consequence of the affair.

2009

Sainsbury has also been associated with the Institute for Public Policy Research and Progress. Between 2001 and 2011 he provided £2 million of funding for Progress. In 2009, he created the Institute for Government with £15 million of funding through the Gatsby Charitable Foundation to help government and opposition politicians to prepare for political transitions and government. He donated £390,000 to Progress and the Movement for Change between December 2011 and April 2013, while he was not on a UK electoral register, which is contrary to electoral law, leading to Progress and the Movement for Change being fined by the Electoral Commission.

2011

In 2011, Sainsbury was formally proposed by the Nominations Board of Cambridge University to succeed the Duke of Edinburgh as Chancellor of the University of Cambridge. If his election had not been contested by 17 June, he would have assumed office on 1 July. However, his nomination became the first in 163 years to be contested by another candidate when, on 29 May, local shopkeeper Abdul Arain stood in protest at a planning application for a Sainsbury's Local branch in Cambridge's Mill Road district, triggering a contest that would have to wait until an October ballot. Four days later, a group of Cambridge University alumni successfully drafted actor Brian Blessed as an alternative candidate. On 20 June, socialist barrister Michael Mansfield became the third candidate to oppose Sainsbury. An election took place on 14 and 15 October 2011 in which Sainsbury won with 52% of the votes (2893 votes out of 5558) on a 2.5% turnout and he was confirmed to the position on 16 October 2011.

2013

In 2013, together with his wife Susie, he joined the Giving Pledge, the group started by Warren Buffett and Bill and Melinda Gates, pledging to donate half his fortune to charitable trusts during his lifetime.

2017

After the 2017 general election, Sainsbury announced he would no longer provide financial backing to party political causes, but will donate to charitable causes. During 2016 he had donated £260,000 to Progress in addition to backing "Remain" organisations. However in late 2018 he donated £25,000 to Scottish Conservatives MP Luke Graham.

2019

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.

🎂 Upcoming Birthday

Currently, David Sainsbury is 81 years, 8 months and 4 days old. David Sainsbury will celebrate 82nd birthday on a Monday 24th of October 2022.

Find out about David Sainsbury birthday activities in timeline view here.

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