Net Worth: $1.3 Billion
- Source of Wealth Retail, inherited
- Nationality United Kingdom
About David Sainsbury
Education: MBA, Columbia University; BA/BS, University of Cambridge
Marital Status: Married Children: 3
Inherited stake in family’s Sainsbury’s, one of the U.K.’s largest grocers; in recent years group has expanded into insurance, banking and travel businesses. Sales rose 5% year on year, and the chain’s UK market share is now at just over 16%. Now looking to expand overseas, with a move to China reportedly being considered. Stepped down from management in 1998 to enter politics; spent 8 years as Minister for Science & Innovation but resigned in 2006. Has been a loyal Labour donor, giving over £12 million since 2000, but has broken with the party recent months: he supported David Miliband to take over as leader, but Miliband’s brother Ed won the vote, prompting pundits to question whether he’ll keep donating.