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In a sign he was preparing a return, Sainsbury, who was made a Labour peer in 1997, quietly made a small donation last year to support the work of the shadow chancellor, Rachel Reeves. The Tories traditionally raise huge sums from finance and business figures. Lord Sainsbury of Turville, Elected as Chancellor of Cambridge University. Spoken contributions. It is highly unusual for a minister to stay in the same job so long. A Labour spokesperson said: Donors are coming back to Labour because they can see we are a changed party that is serious about getting into government and building a fairer, greener, more dynamic Britain. Lord Sainsbury returns to the Labour fold with 2m donation The former chair of the supermarket chain was a big donor to Blair and Brown but cut off his support under Corbyn Michael Savage. Voting record. [31][32] In 1993, he donated 200 million of Sainsbury's shares to the Foundation's assets. He was Chair of Savacentre from 1984 to 1993, during which time the hypermarkets business grew slowly. We, AOL, are part of the Yahoo family of brands. After receiving the item, contact seller within Refund will be given as Returns shipping; 30 days: Money Back: Buyer pays for return shipping: Refer to eBay Return policy opens in a new tab or window for more details. Get IQ. Profits fell the next year, but rose in 1998. The last family chairman was David Sainsbury who retired as chairman of the company in 1998. During John Sainsburys chairmanship all the remaining 82 counter-service branches were closed and 313 large supermarkets replaced the previous 244 stores. Other less high-profile donations were made for medical research including, partly for family reasons, research into chronic fatigue syndrome, and to the St John of Jerusalem eye hospital on the Palestinian West Bank, an interest dating back to Sainsburys national service days. Lord Sainsbury of Preston Candover obituary Fourth-generation head of the family supermarket chain and generous philanthropist to the arts whose mantra was 'retail is detail' Tuesday January 18. By Posted jordan schnitzer house In strengths and weaknesses of a volleyball player This ran from 1973 until 1995 when the completion of the Lady Chapel was marked by the unveiling of new stained glass in the west window of the Lady Chapel. Between 2001 and 2011 he provided 2 million of funding for Progress. John Sainsbury felt the business stagnated under his successor, whose chief interest was in science and who left the chairmanship in 1998 to become a minister in Tony Blairs government. He was knighted in 1980, and given a life peerage in 1989. [13] He gave another 500,000 on 15 December 2008, making a total of 18.5 million. [40] Four days later, a group of Cambridge University alumni successfully drafted actor Brian Blessed as an alternative candidate. Excludes bank holidays) 6-9 Carlton House Terrace, London SW1Y 5AG . Bairstow, Harris & Stanford: Choral Works, The Mystery of the Transfiguration: Seven Meditations, A joyful noise: the bells of Westminster Abbey, God, Gratitude and Being at Home in the World, The Challenge of Bioethics to Decision-Making in the UK. Celia Sainsbury, daughter of Robert Sainsbury, married name Celia Blakey, had issue: Michael Robert Blakey, son of Celia Blakey, Annabel Sainsbury, daughter of Robert Sainsbury, married name Annabel Kanabus, former director of the HIV/AIDS charity, Sainsbury Institute for the Study of Japanese Arts and Cultures, South Asian Decorative Arts and Crafts Collection Trust, Camilla Sainsbury, daughter of Tim, is married to former MP, This page was last edited on 12 September 2022, at 11:15. David Sainsbury joined J Sainsbury plc in 1963 after graduating from King's College, Cambridge. Born John Sainsbury, his 40-year career with the. John Sainsbury, who passed away on 14 January, aged 94, is remembered for his business acumen, but he also had an avid interest in archaeology and the arts. Data released on Thursday shows the central party attracted more than 6 million from individuals . [38], 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. Today, the family has many interests, including business, politics, philanthropy, arts, and sciences. He was known to descend unannounced on stores for terrifying inspections and interrogations of local managers. Thanks to Keir Starmers leadership, the Labour party is in a strong and positive financial position, having experienced significant growth in income throughout 2022, leaving us debt and deficit-free., Original reporting and incisive analysis, direct from the Guardian every morning, David Sainsbury: Keir Starmer wants to reunite the country around an agenda of growth and social justice, which is one I strongly support.. Design and development by Soapbox, I would like to receive emails from Centre for Cities. He was a keen art collector and an influential advocate for the Contemporary Art Society, making a significant contribution to the organisation personally as well as through . Camilla Sainsbury, daughter of Timothy Sainsbury, married to Conservative, later Labour, James Sainsbury, son of Timothy Sainsbury, Alexander Sainsbury, son of Timothy Sainsbury, Jessica de Frankopan, daughter of Timothy Sainsbury and married to, Paulette Sainsbury, only daughter of Alan Sainsbury (1946); known by married name Paulette Anderson, Lindsey Anderson, daughter of Paulette Anderson, The Hon. jack the ripper documentary channel 5 / ravelry crochet leg warmers / lord sainsbury contact. This active involvement of the Foundations settlor means Gatsby operates in areas that David Sainsbury is particularly passionate about, and where he believes charitable funding can make a real difference. David John Sainsbury, Baron Sainsbury of Turville, HonFRS, HonFREng[1] (24 October 1940) is a British politician, businessman and philanthropist. A hostile bid for the company may encounter difficulties, without the full support of the Sainsbury family. John Sainsbury, Baron Sainsbury of Preston Candover, KG (1927-2022), best-known as the former Chairman of one of the UK's largest supermarket chains, has died aged 94. Lord Sainsbury was a generous donor to the Westminster Abbey Appeal Fund which raised millions of pounds for restoring the exterior of the Abbey and also Henry VII's Lady Chapel. British politician, businessman and philanthropist, David Sainsbury, Baron Sainsbury of Turville, Chancellor of the University of Cambridge. Sainsbury was not seen as a bid target until it reported in February that the Sainsbury family had reduced its total stake by three per cent, 52 million shares. The supermarket's current chairman and chief. The former chairman and chief executive of major supermarket giant Sainsbury's, Lord Sainsbury of Preston Candover, has died aged 94. 10,000? European Union and British. The Queen meeting Lord and Lady Sainsbury on May 22 2019 in central London during a celebration of the store's 150th anniversary (Image: Sainsbury's) Group 28 Our free email updates are the best . On this Wikipedia the language links are at the top of the page across from the article title. FT Alphaville Stacy-Marie Ishmael. His championing and bankrolling of pro-EU groups could also be used by the Tories to attack Labour. These are: Eighteen of the grant-making trusts set up by members of the Sainsbury family, are known collectively as the Sainsbury Family Charitable Trusts. He is also a Member of the World Presidents' Organization, the Global Leadership Foundation and was on the Advisory Board of the British Olympic Association for the London 2012 Olympic Games. According to figures from the Electoral Commission, the Conservatives raised just under 3m from July to September, compared with 5.4m in the previous quarter. lord sainsbury contact. He was also a member of the cabinet biotechnology committee, Sci-Bio, responsible for national policy on GM crops and foods, and as such was a key adviser to Blair on GM technology. The couple divorced when their son was 12 and John was sent to Stowe school and subsequently studied history at Worcester College, Oxford, for which the family became major benefactors, supplying a residential block for students. Donations from companies and wealthy individuals to Labour stood at less than 400,000 in 2020. He could be a temperamental boss. 251988 The Gatsby Charitable Foundation. However, some shares which have been sold were definitely sold to the open market (according to Miss Judith Portrait, the trustee for many Sainsbury family settlements). 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. [36] In 2011, Cambridge's Sainsbury Laboratory opened, paid for by an 82 million donation from the Gatsby Foundation made in 2008. [35], 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. The Hon. David John Sainsbury, Baron Sainsbury of Turville, HonFRS, HonFREng [1] (24 October 1940) is a British politician, businessman and philanthropist. He retained the presidency of the company and led successful family opposition to a takeover bid by private equity companies in 2007. John Davan Sainsbury became chairman in 1969 on Sir Robert Sainsbury's retirement. Principal members of the founding family of the UK supermarket chain Sainsbury's are: No family member works for the company, although John Davan Sainsbury is the Life President of the firm. Branches more than quadrupled in size, from an average 8,000 sq ft to nearly 35,000 sq ft, and the range of products increased from 4,000 to 16,000, half of them own-brand. here. The Gatsby Charitable Foundation is an endowed grant-making trust established in 1967 by David Sainsbury which acts as the enabler for projects across a small number of selected fields. funfetti pancake mix cookies lord sainsbury contact. He was appointed as Chancellor of Cambridge University in 2011. Mark Sainsbury, son of John Davan Sainsbury. . Lord Sainsbury started working in his family's business in. This brought to an end 129 years of management of the group by the Sainsbury family. Lord John Sainsbury of Preston Candover was the president of Sainsbury's and also sat in the House of Lords as a member of the Conservative Party. "[37], 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. Alan Sainsbury had introduced the companys first self-service store in Croydon in 1950 after seeing supermarkets in the US an angry customer, affronted at having to serve herself, threw a wire basket at him on opening day and had also started frozen food and own-brand lines. The Sunday Times reported in September 2006 that "The Sainsbury family continues to [sell] shares in the 6.2 billion retailer and for the first time their combined holding has fallen below 20%.. The largest family shareholders are Lord Sainsbury of Turville with 4.99% and Lord Sainsbury of Preston Candover, who controls just under 3% of the company, and benefits from 1.6% of the equity included in the above. Between the flotation in 1973 and John Sainsburys retirement in 1992 the companys market capitalisation rose from 117m to over 8bn. As a government minister since 1998, his shares were held in a blind trust until 2007. After national service with the army in Palestine, he joined the family firm in 1950, becoming a buyer the following year and being put in charge of bacon purchases in 1956. Lord Sainsbury, who is currently on leave of absence from the House of Lords, donated more than 4.2m to nine different Remain groups, under four different aliases. Nov 5th 1998 |. If you would like to customise your choices, click 'Manage privacy settings'. Former Conservative chairman Nadhim Zahawi had been battling hard to raise cash for his party before he was fired by Rishi Sunak after a breach of the ministerial code over his tax affairs. CONTACT US + 44 207 451 2500 (Lines open Mon-Fri, 9:00-17:00. The largest shareholder is the Qatar Investment Authority, the investment vehicle of the Qatari royal family of the Gulf Kingdom, who as of May 2011 holds 25.999% of the company. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. In 2003 Sainsbury was granted the Andrew Carnegie Medal for Philanthropy. Focus areas. David Sainsbury (Lord Sainsbury of Turville) is a British businessman, politician and philanthropist.He was Science Minister in Tony Blair's government from July 1998 until 10 November 2006. This ran from 1973 until 1995 when the completion of the Lady Chapel was marked by the unveiling of new stained glass in the west window of the Lady Chapel. I am proud to be a Cambridge graduate and know both British and foreign universities as a result of my eight years as Minister of Science and Innovation. [9], 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. Lord David Sainsbury Chancellor of the University of Cambridge, UK David Sainsbury read History and Psychology at King's College, Cambridge, and then joined J Sainsbury plc in 1963. His book,Windows of Opportunity: How Nations Create Wealthwas published in February 2020. Ivor Crewe, Anthony King, "SDP: The Birth, Life and Death of the Social Democratic Party", Oxford University Press, 1995, p. 94. Lord Sainsbury of Preston Candover is deceased. [15][16], In July 2006, he became the first government minister to be questioned by police in the "Cash for Peerages" inquiry. Find out more about how we use your personal data in our privacy policy and cookie policy. Lord Sainsbury, whose mantra was "retail is in the detail" retired from his role as chief executive and chairman in 1992. The Head, the Board of Governors and all those involved with the Old Stoic Society were profoundly sad to hear of the death of The Rt Hon the Lord Sainsbury of Preston Candover KG, (Grenville '46) on Friday 14 January. Businessman who oversaw the rise of the family firm, J Sainsbury, which became the largest supermarket in Britain. IN 1949 Alan Sainsbury returned to Britain from a voyage of discovery to the United States. Parliamentary career Experience Focus areas Voting record Spoken contributions Written questions Official portrait Parliamentary career He became a director two years later and vice-chairman following his fathers retirement in 1967. 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. This fall from around 35% increases the possibility of any takeover attempt succeeding. During his 40-year career with the. In 2021 The Sunday Times named the Sainsbury family among the most charitable people for the last 20 years with donations of 3.625 billion.[6][7]. [citation needed] He has argued that there are "far too many reshuffles", and that there were considerable benefits to his remaining in post for so long. Ivor Crewe, Anthony King, "SDP: The Birth, Life and Death of the Social Democratic Party", Oxford University Press, 1995, p. 249, 251. This is the contact form to use for any general enquiries. David Sainsbury who is a grocer and a politician is also one of Britain's richest men and was a multi-millionaire by the time he was in his 20s. Quarry announced he had left the Conservatives during Liz Trusss leadership, declaring that she and her then chancellor, Kwasi Kwarteng, were zealots following a policy of GCSE economics. He is also the author of two Fabian pamphlets Government and Industry: A New Partnership and Science and Innovation Policies in a Global Economy and is co-author with Christopher Smallwood of Wealth Creation and Jobs published by the Public Policy Centre. The Sainsbury family as a whole control approximately 15% of Sainsbury's. A minister under Tony Blair, Lord Sainsbury gave 2.15m to Labour and 2.125m to the Liberal Democrats in the three months to June. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. [44] She was appointed DBE in the 2022 Birthday Honours, for "services to the Arts, In a development claimed by Starmers allies as a sign of rising support within the business world, Lord Sainsbury, the former chairman of the Sainsburys supermarket chain, said he had been attracted back to Labour by its leaders desire to reunite the country around an agenda of economic growth and social justice. Sainsburys last large donation to Labour was in 2016, when he gave the party more than 2m. All Gatsbys funds have come from David Sainsbury, and he and the Gatsby Trustees set our strategic direction and approve all activities. Wednesday, 28 February, 2007. [3], Sainsbury and his wife, Susan Carroll (ne Reid), a former teacher, have three daughters. Sainsbury also formerly funded the Progress group, associated with the Labour right, and gave a small donation to a Tory MP in 2018. BBC News (14 July 2006), "Sainsbury quits 'in anger at loans affair', "Sainsbury sets out a different way of operating", "New Labour group Progress rejects GMB union 'outlaw' threat", "Sainsbury-backed Labour groups fined by Electoral Commission", "Electoral Commission fines Progress Ltd and Movement for Change failure to return impermissible donations", "The public wants to know where companies stand on Brexit", "Lord Sainsbury gives to Labour and Lib Dems", "UK's biggest political donor, Lord Sainsbury, to end his contributions", "Labour benefactor Lord Sainsbury donates 25,000 to Scottish Conservatives MP", "Tories raised three times as much as Labour in pre-election donations", "Lord Sainsbury becomes first Briton to donate more than 1 billion to charity", "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", "The Queen opens new plant science laboratory at Cambridge Plant Science", "Sainsbury donates 82m for plant research", "Mill Road shopkeeper to take on Lord Sainsbury for Chancellorship", "Brian Blessed bids to be Cambridge chancellor", "Annual Review 2007: Principal's Review", David Sainsbury, Lord Sainsbury of Turville Official Website, Lord (David) Sainsbury of Turville DTI ministers, The Sainsbury Family and Lord (David) Sainsbury, 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, 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, Orders of precedence in the United Kingdom, Chancellors of the University of Cambridge, Thomas Pelham-Holles, 1st Duke of Newcastle, John Sainsbury, Baron Sainsbury of Preston Candover, https://en.wikipedia.org/w/index.php?title=David_Sainsbury,_Baron_Sainsbury_of_Turville&oldid=1134482489, Presidents of the British Science Association, Members of the American Philosophical Society, Pages containing links to subscription-only content, Articles lacking in-text citations from September 2022, Short description is different from Wikidata, Articles needing additional references from September 2022, All articles needing additional references, Articles with unsourced statements from April 2020, All Wikipedia articles needing clarification, Wikipedia articles needing clarification from April 2020, Wikipedia articles needing factual verification from April 2020, Articles with unsourced statements from April 2015, Articles with unsourced statements from April 2022, Creative Commons Attribution-ShareAlike License 3.0, In 1994, Sainsbury was appointed as an Honorary, In 2001, he was elected an international member of the, In 2007, he was awarded an honorary degree in science by, In 2007, he was awarded an honorary doctorate from, In 2008, he was awarded an honorary degree in science by the, In 2008, he was made an honorary fellow of the, This page was last edited on 18 January 2023, at 22:48. He was the beloved husband of Anya, Lady Sainsbury, the adored father to Sarah, Julian and Mark and a much loved . Save. lord sainsbury contact. Dedicated to the memory of John Sainsbury, 2 November 1927 - 14 January 2022. He is Chairman of WE UK (formerly Free The Children) and co-hosts their annual signature event WE Day UK with Holly Branson. 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. Sarah Sainsbury, daughter of John Davan Sainsbury, married to Hon. He is survived by Anya, their two sons, John Julian and Mark, and a daughter, Sarah. Remembering Lord Sainsbury. He received the Andrew Carnegie Medal for Philanthropy on behalf of the Sainsbury family in 2003. Born David John Sainsbury on 24 October 1940, he came into riches after. Stowe School. 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. His cousins have included Simon Sainsbury, Conservative peer John Sainsbury, Baron Sainsbury of Preston Candover, KG, and former Conservative MP Sir Tim Sainsbury. John Davan Sainsbury, Baron Sainsbury of Preston Candover, KG (2 November 1927 - 14 January 2022 [2]) was the President of Sainsbury's, a British businessman, and a politician. However, he says that along with his wealth he has . His full title was The Lord Sainsbury of Preston Candover KG. [21] 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. [20], Sainsbury has also been associated with the Institute for Public Policy Research and Progress. This article was amended on 17 January 2022. Please complete the boxes below and click the submit button. He was elected Chancellor of the University of Cambridge in October 2011. At the time, the Lib Dems were fighting on a fiercely anti-Brexit platform. John Julian Sainsbury, son of John Davan Sainsbury, The Hon. The former chairman of the supermarket chain was 94. Snapshot. On this Wikipedia the language links are at the top of the page across from the article title. During his 40-year career with the firm . In 2001, the Sainsbury Trusts donated some $90 million to a wide range of good causes both in Great Britain and abroad. [39] 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. That does not include the latest 2m gift. He was Finance Director of J. Sainsbury plc from 1973 to 1990 and Chairman from1992 to 1998. Sainsbury's current CEO Simon Roberts described him as "one of the great retailers of his time". The flagship of this fleet of trusts is the Gatsby Charitable Foundation. There is also in the vestibule of this chapel an enamelled plaque which reads: This image can be purchased from Westminster Abbey Library, Image 2023 Dean and Chapter of Westminster. He sat in the House of Lords as a member of the Conservative Party. [34] He set up the Sainsbury Management Fellowship scheme in 1987 to develop UK engineers into leaders in industry. John Sainsbury, Lord Sainsbury of Preston Candover, who has died aged 94, was the driving force behind the family supermarket chain for 23 years as its determined chairman. Donations to Labour jumped by nearly a quarter to 4.7m understood to be the highest quarterly figure for six years. The supermarket's current chairman and chief executive announced the death of the Baron on Friday evening, saying he had lived a "remarkable life". 46K Views 10 Retweets 38 Quote Tweets 51 Likes Peter Green @PeterGreen1966 His great-grandparents, John James Sainsbury and Mary Ann Staples, established a grocer's at 173 Drury Lane in 1869 which became the British supermarket chain Sainsbury's. Read more David Sainsbury at the University of Oxford, Martin Kettle writes in The Guardian about the analysis of Labours political economy in Progressive Capitalism in the context of Ed Milibands speech at Labour Party Conference this week Read more Martin Kettle Comment on Progressive Capitalism, David was interviewed by The Economist about his book, Progressive Capitalism: http://www.economist.com/blogs/prospero/2013/06/progressive-capitalism, General enquiries: office@davidsainsbury.org.uk, Media enquiries: media@davidsainsbury.org.uk, Materials here may be freely reused by media and others giving credit to davidsainsbury.org.uk under the terms of the Creative Commons By-Attribution licence 3.0, Site design by Helpful Technology using WordPress, David Sainsbury at the University of Oxford, Martin Kettle Comment on Progressive Capitalism, Read more about The Gatsby Charitable Foundation , David Sainsbury at the University of Oxford, Martin Kettle Comment on Progressive Capitalism, Creative Commons By-Attribution licence 3.0. He was Financial Controller from 1971 to 1973, just before the company's flotation. David Sainsbury began his professional career when he joined the UK retailer J Sainsbury plc in 1963. Finally in 1969, he was appointed Chairman and Chief Executive until his retirement in 1992. The Sainsbury family has also set up a number of buildings, to house their various interests. 1m? Copyright 2023 Cambridge Industrial Innovation Policy, Chancellor of the University of Cambridge, UK. Lord Sainsbury, who served as a science minister under Tony Blair and made a peer in 1997, donated 4.2million to nine different Remain groups, using four different aliases. When he retired on his 65th birthday in 1992, the company had overtaken its rivals to become the largest supermarket in Britain, had branched out into the Homebase do-it-yourself chain, launched in the US by taking over a supermarket group there, and was recording an annual profit of 628m. Lord Sainsbury gave the UK's biggest ever political donation to the Liberal Democrats in the run up to last year's election, only for the party to lose a seat and its leader. Today, the family has many interests, including business, politics, philanthropy, arts, and sciences. Despite . Sainsbury married the former ballet dancer Anya Linden in 1963 and the couple established the Linbury charitable trust a combination of their two names to channel donations eventually totalling more than 150m to projects largely devoted to art and the performing arts, heritage and educational projects. For information about our privacy practices, please visit our He received an M.B.A. from the Columbia Graduate School of Business in New York in 1971. Private donations to the Labour party have hit a 14-year high, thanks to the Sainsbury family. The Sainsbury family (also Lord Sainsbury and family and incorrectly the Sainsbury's family) founded Sainsbury's, the UK's second-largest supermarket chain. Sainsburys return follows the defection of multimillionaire Conservative donor Gareth Quarry, who has given Labour 100,000 and promised more. By clicking to subscribe, you acknowledge that your information will be transferred to MailChimp for processing. The last family member to work for the company was Tim Sainsbury who retired as a non-executive director in 1999. Keir Starmers election war chest has been given an extraordinary boost after one of the biggest New Labour-era donors returned to the party fold with a 2m donation, the Observer can reveal. In October 1997 he was made a life peer, becoming Lord Sainsbury of Turville. He was the son of Alan Sainsbury, Baron Sainsbury, and the nephew of Sir Robert . Archie Bland and Nimo Omer take you through the top stories and what they mean, free every weekday morning. [18] 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.[19]. He is an Honorary FREng (Honorary FEng 1994), an Honorary FRS 2008, and an Honorary FMedSci 2008. [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).