Major philanthropy still strong as Lord Sainsbury gives away £1bn

Fundraising | Celina Ribeiro | 27 Apr 2009

Lord Sainsbury has become the first Briton to give away £1bn as new figures show top philanthropists increased their giving by £216m in 2008.

The supermarket magnate’s generosity, which has mainly benefited charities in the fields of arts, mental health, children and scientific research, is distributed through the Gatsby Charitable Foundation.

More than £660m has already been given away, and the 68-year-old has donated a further £465m which he is keen does not become an endowment.

While Lord Sainsbury is the first to pip the £1bn post, figures in the new Sunday Times’ Giving List – released next week – show strong growth in top-end philanthropy in the UK, with the 100 most generous philanthropists donating £2.86m in 2008, a near ten per cent increase on the previous year.

Self-made hedge fund billionaire Christopher Cooper-Hohn gave away nearly half a billion pounds in 2008 alone. Cooper-Hohn’s Children’s Investment Fund had originally aimed to distribute £5m per year, but last year doled out £463m to charities.

But it was Lord Ashcroft, who recently bailed out Prince Harry’s charity Sentebale, who was the top giver in 2008 after pledging to leave £880m to charity when he dies.

Tom Hunter has also reported he wants to give away £1bn, but his businesses have taken a hit from the economic downturn.

Who's Who: Celina Ribeiro

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