David Sainsbury net worth
David Sainsbury Net Worth: David Sainsbury is a British businessman and politician with a net worth of $1.1 billion. David John Sainsbury, born 24 October 1940, inherited a $38 billion stake (sales) in Sainsbury’s, one of the largest supermarket chains in the UK today , to get rich.
In addition to being the majority shareholder, Mr Sainsbury was also Chairman and Chief Executive Officer, which he left in 1997 when he was named a Lifetime Peer and received the title of Lord David Sainsbury of Turville. He was appointed to the government in 1998 and served as Minister of Science and Innovation for eight years until his resignation in 2006. Today, he serves in the House of Lords as a member of the Labour Party. A loyal member of the party, he has donated $15 million since 2000. However, his donations have reportedly increased since Ed Miliband took the helm in 2010. David supported Ed’s brother David Miliband. In addition to this, he established the Sainsbury Management Fellowship Society in 1987 to help engineers from the UK become effective C-level executives and business leaders. Through the programme, he has awarded US$472,000 in MBA scholarships to young, qualified engineers in the UK.
