Philanthropist Steve Morgan CBE, the founder and chairman of Redrow, and former chairman of Wolverhampton Wolves, has gifted over £200 million to The Morgan Foundation.
The donation has been made to The Morgan Foundation in the form of 42 million shares, representing 11.36% of the issued share capital of Redrow PLC. According to the Foundation, it will benefit thousands of charities and community groups, particularly those helping children and families in desperate need, and is believed to be one of the largest ever made by a British businessman.
The charity was formed by Steve Morgan in 2001, and since then has committed £35 million to causes in North Wales, Merseyside, West Cheshire, and North Shropshire. In addition, The Morgan Foundation has distributed 47 specially adapted ‘smiley buses’.
Jane Harris, administrator of The Morgan Foundation, said:
“Steve Morgan’s incredible generosity will mean a huge and profound step-change for The Morgan Foundation. Our ethos is based on making a difference and Steve’s gift of over £200 million means we will be able to help thousands of more people in need.
“We can also ramp up the donation of smiley buses which have made such a positive impact to the disabled and socially isolated in our region. I’m also delighted to say we are actively planning some very exciting, and significant, capital projects and we’ll be announcing more details soon.”
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