Tom Hunter

Last updated

Sir Thomas Blane Hunter
Born (1961-05-06) 6 May 1961 (age 63)
New Cumnock, Ayrshire, Scotland
Alma mater University of Strathclyde
Occupation(s)Property and sports goods

Sir Thomas Blane Hunter (born 6 May 1961) is a Scottish businessman, [1] entrepreneur, and philanthropist.

Contents

Sports Division

Hunter set up his first business after graduating from the University of Strathclyde as he was, in his own words, "unemployable". With a £5,000 loan from his grocer father Campbell and matching funds from a bank, he started selling trainers from the back of a van. Hunter built the business into Europe's largest independent retailer. In 1998 in an unsolicited offer, Dave Whelan's JJB Sports offered to buy the larger Sports Division for £290 million; Hunter accepted, earning himself £252 million.[ citation needed ]

Other business activities

Hunter had expanded Sports Division through financing supplied by the Royal Bank of Scotland, but when he proposed the takeover of Olympus Sports, RBS refused to finance the deal. Through his friend Sir David Murray, he met Halifax Bank of Scotland governor Gavin Masterton on a trip to watch Rangers F.C. play Juventus, and subsequently built his business on the HBoS relationship. [2]

Senior lending manager Peter Cummings introduced Hunter to property development, which resulted in his purchase of stakes in builder Crest Nicholson, and retirement homebuilder McCarthy & Stone. In 2001 Cummings introduced Hunter to fellow HBoS client Nick Leslau, which led to the purchase of stakes via Leslau's Prestbury Investment Holdings in the freehold property portfolios of Travelodge hotels, licensed premises; and the theme park portfolio of Merlin Entertainments, including Alton Towers. [3]

In August 2013, Hunter put up a huge cash loan that enabled his friend David Moulsdale, founder of Optical Express eye surgery clinics, to save his company from closure after the Royal Bank of Scotland threatened to seize control. [4]

In September 2020, Hunter sold £52 million of shares in The Hut Group when the business joined the stock market. He subsequently sold a further £31 million in January 2021. He retains a stake worth £105 million. [5]

West Coast Capital

In March 2001, Hunter was a founding partner of West Coast Capital, the private equity arm of the Hunter Family. Through this firm he has become a major shareholder in a number of retailers – including USC, Office, D2, Qube; and 8% of British Home Stores (BHS), with the bulk owned by Sir Philip Green, subsequently disposing of them all. His other investments included Wyevale Garden Centres. [6] [2]

At its height, West Coast investments covered over 50 companies, and Hunter was touted as a possible bidder for Selfridges – he lost out to Galen Weston. [7] However, in light of the Financial crisis of 2007–2008 he sold his stake in Dobbies Garden Centres to partner Tesco, lost his entire holding in Crest Nicholson; and a majority of his stakes in McCarthy & Stone and Wyevale Garden Centres. [8]

West Coast Capital now holds a number of major investments in property, e-commerce and data analytics including a large stake in listed Secure Income Reit Plc, majority control of the £1 billion Winchburgh Village development and a substantial stake in Order Dynamics. West Coast Capital directly funds, alongside the Hunter Family, venture philanthropy, The Hunter Foundation.

One of the investments the company holds is a 3.37% stake in the Hut Group, which was worth £151.6 million when the company listed on the London Stock Exchange in September 2020. [9]

Philanthropy

Advised to move to Monaco after the sale of Sports Division, Hunter wanted to raise his family in his homeland. He came to the realisation that making money was, as he told Andrew Marr in a 2005 BBC interview, "only half of the equation", [10] and also from the inspiration of his acknowledged hero Andrew Carnegie, in particular Carnegie's book The Gospel of Wealth and Carnegie's sentiment that "a man who dies rich, dies disgraced". [11] [12] Hunter and his wife Marion, Lady Hunter, subsequently established The Hunter Foundation in 1998 with a £10 million cheque as a tax management vehicle. [13] After discussions with Vartan Gregorian, head of the Carnegie Foundation in New York City, [11] Hunter set a cause and a method which has resulted in the foundation donating in excess of £50m to supporting educational and entrepreneurial projects in Scotland and sustainable development in sub-Saharan Africa in partnership with former President Bill Clinton through the Clinton Hunter Development Initiative.

In 2001, Hunter was interviewed for the STV programme Rich, Gifted and Scots, discussing his wealth, influences and philanthropy. [14] Hunter coined the term "venture philanthropy" – using his investment pledges to leverage more cash from others to invest with him and becoming involved in the strategic delivery of the initiatives he backed. This ensured he could make a bigger impact with his money. [2]

Hunter's donations and beneficial projects have included:

Scotland's former first minister, Jack McConnell, has said of Hunter: [10]

His philanthropic work and the creative way that he has thrown himself into that have been one of the most significant drivers for change in Scotland in the last decade. The work his foundation does is all about being a catalyst for change, not a substitute and not a general giveaway but a genuine approach to change the way things are done.

In October 2013, Hunter was awarded the Carnegie Medal of Philanthropy. Described by some as the "Nobel Prize for philanthropy", the medal recognises those who use their private wealth for public good and is awarded biannually to global figures leading the way in this field. [20] He dedicated the award to his father, who he describes as his "hero and inspiration". He also donated over £1,000,000 to children in need in 2018. [21]

After the death of former Scottish First Minister Alex Salmond in Ohrid, North Macedonia on 12 October 2024, Hunter agreed to finance the repatriation of his body to Scotland. [22]

Politics

In 2001, Hunter was one of the Labour Party's top 50 donors, giving £100,000 to its head office. [23]

In August 2014, Hunter unveiled the scotlandseptember18.com website dedicated to providing impartial sources of information related to the Scottish independence referendum. The site focused on 16 questions central to the referendum debate. [24]

Recognition

In 1997, he was awarded Alumnus of the Year by the University of Strathclyde. [25]

In 2005 he received a knighthood for "services to Philanthropy and to Entrepreneurship in Scotland". [26]

In 2013 he was awarded the Carnegie Medal of Philanthropy.

Personal life

Hunter and his wife Marion, Lady Hunter, have three adult children.

In 2001, Hunter is reputed to have spent £1m on his 40th birthday party, at which Stevie Wonder performed. [12] The party was held at his home in Cap Ferrat, on the Côte d'Azur, which he sold to a Russian business for reputedly £55m in late 2007. [27]

In April 2007, Hunter was reported in the Sunday Times Rich List as the first ever home-grown billionaire in Scotland, with an estimated wealth of £1.05 billion. [6] Due to the financial crisis of 2007–2010 slicing an estimated £250 million from his fortune, Hunter was overtaken as Scotland's richest man in late 2007 by Jim McColl, head of Glasgow engineering firm Clyde Blowers, who has an estimated fortune of £800 million. [27] According to the Sunday Times Rich List in 2021, Hunter is now worth £729 million. [5]

Related Research Articles

Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material gain; and with government endeavors that are public initiatives for public good, such as those that focus on the provision of public services. A person who practices philanthropy is a philanthropist.

<span class="mw-page-title-main">David Sainsbury, Baron Sainsbury of Turville</span> British politician, businessman and philanthropist

David John Sainsbury, Baron Sainsbury of Turville is a British politician, businessman and philanthropist. From 1992 to 1997, he served as chairman of Sainsbury's, the supermarket chain established by his great-grandfather John James Sainsbury in 1869.

<span class="mw-page-title-main">Azim Premji</span> Indian business tycoon, investor (born 1945)

Azim Hashim Premji is an Indian businessman and philanthropist, who was the chairman of Wipro Limited. Premji remains a non-executive member of the board and founder chairman. He is informally known as the Czar of the Indian IT Industry. He was responsible for guiding Wipro through four decades of diversification and growth, to finally emerge as one of the global leaders in the software industry. In 2010, he was voted among the 20 most powerful men in the world by Asiaweek. He has twice been listed among the 100 most influential people by Time magazine, once in 2004 and more recently in 2011. For years, he has been regularly listed one among The 500 Most Influential Muslims. He also serves as the Chancellor of Azim Premji University, Bangalore. Premji was awarded Padma Vibhushan, India's second highest civilian award, by the Government of India.

<span class="mw-page-title-main">Brian Souter</span> Scottish businessman

Sir Brian Souter is a Scottish businessman. With his sister, Dame Ann Gloag, he founded the Stagecoach Group of bus and rail operators. He also founded the bus and coach operator Megabus, the train operating company South West Trains, his investments company Souter Holdings Ltd, and the Souter Charitable Trust.

<span class="mw-page-title-main">Jon Huntsman Sr.</span> American businessman and philanthropist (1937–2018)

Jon Meade Huntsman Sr. was an American businessman and philanthropist. He was the founder and executive chairman of Huntsman Corporation, a global manufacturer and marketer of specialty chemicals. Huntsman plastics are used in a wide variety of familiar objects, including (formerly) clamshell containers for McDonald's hamburgers. Huntsman Corporation also manufactures a wide variety of organic and inorganic chemicals that include polyurethanes, textiles, and pigments. Huntsman's philanthropic giving exceeded $1.5 billion, focusing on areas of cancer research, programs at various universities, and aid to Armenia.

<span class="mw-page-title-main">Atlantic Philanthropies</span> Private philanthropic foundation

The Atlantic Philanthropies (AP) was a private foundation created in 1982 by American businessman Chuck Feeney. The Atlantic Philanthropies focused its giving on health, social, and politically left-leaning public policy causes in Australia, Bermuda, Ireland, South Africa, the United States and Vietnam. It was among the largest foreign charitable donors in each of the countries in which it operated, and was the single largest funder of programs that encouraged the civic engagement of older people and of comprehensive immigration reform in the United States. With the single largest advocacy grant ever made by a foundation, the Atlantic Philanthropies committed $27 million to win passage of the Affordable Care Act in the United States. About half of the Atlantic Philanthropies' grants were made in donations that allow lobbying.

Sir Thomas Farmer, is a Scottish entrepreneur.

<span class="mw-page-title-main">Anil Agarwal (industrialist)</span> Indian businessman (born 1954)

Anil Agarwal, known professionally as "metal king," is an Indian billionaire businessman who is the founder and chairman of Vedanta Resources Limited. He controls Vedanta Resources through Volcan Investments, a holding vehicle with a 100% stake in the business.

<span class="mw-page-title-main">Len Blavatnik</span> Ukrainian-born British-American billionaire businessperson and philanthropist (born 1957)

Sir Leonard Valentinovich Blavatnik is a Soviet/Ukrainian-born British-American businessman and philanthropist. In 2024, Forbes estimated his net worth at $32.1 billion, ranking him the 52nd-richest person in the world. In 2017, Blavatnik received a knighthood for services to philanthropy.

<span class="mw-page-title-main">Clinton Foundation</span> American non-profit organization

The Clinton Foundation is a nonprofit organization under section 501(c)(3) of the U.S. tax code. It was established by former president of the United States Bill Clinton with the stated mission to "strengthen the capacity of people in the United States and throughout the world to meet the challenges of global interdependence." Its offices are located in New York City and Little Rock, Arkansas.

<span class="mw-page-title-main">Jim Ratcliffe</span> British engineer and businessman (born 1952)

Sir James Arthur Ratcliffe is a British billionaire, chemical engineer, and businessman. Ratcliffe is the chairman and chief executive officer (CEO) of the INEOS chemicals group, which he founded in 1998.

Charles Francis Feeney was an American businessman and philanthropist who made his fortune as a co-founder of Duty Free Shoppers Group, the travel retailer of luxury products based in Hong Kong. He was the founder of the Atlantic Philanthropies, one of the largest private charitable foundations in the world. Feeney gave away his fortune in secret for many years, choosing to be anonymous, and donating more than $8 billion in his lifetime.

Amar Latif is a Scottish entrepreneur, television personality and professional traveller. His blindness is due to the incurable eye condition retinitis pigmentosa. By his late teens he had 95 per cent sight loss.

<span class="mw-page-title-main">Owen Glenn</span>

Sir Owen George Glenn is an Indian-New Zealand expatriate businessman and philanthropist, who supports humanitarian causes worldwide through his family charity.

<span class="mw-page-title-main">Jim McColl</span> Scottish billionaire businessman

James Allan McColl OBE is a Scottish businessman who is the chairman and chief executive officer of Clyde Blowers. He was a member of the Council of Economic Advisors.

<span class="mw-page-title-main">David Harding (financier)</span> British businessman (born 1961)

Sir David Winton Harding is a British billionaire businessman, and the founder and CEO of Winton Group. He had previously co-founded Man AHL. His approach favours quantitative investment strategies, using scientific research as the basis of trading decisions.

<span class="mw-page-title-main">Bestway</span> British multinational conglomerate company

Bestway Group Limited is a British conglomerate founded by Sir Anwar Pervez in 1976. The group operates in the United Kingdom and Pakistan, and is currently based in London.

<span class="mw-page-title-main">Philanthropy in the United States</span> Overview article

Philanthropy in the United States is the practice of voluntary, charitable giving by individuals, corporations and foundations to benefit important social needs. Its long history dates back to the early colonial period, when Puritans founded Harvard College and other institutions. Philanthropy has been a major source of funding for various sectors, such as religion, higher education, health care, and the arts. Philanthropy has also been influenced by different social movements, such as abolitionism, women’s rights, civil rights, and environmentalism. Some of the most prominent philanthropists in American history include George Peabody, Andrew Carnegie, John D. Rockefeller, Henry Ford, Herbert Hoover, and Bill Gates.

Paul Ragle Harvey is a British composer and former concert pianist. After being diagnosed with Alzheimer's disease in 2019, he rose to prominence in September 2020 following a viral video of him playing the piano. The video led to Harvey performing with the BBC Philharmonic Orchestra and recording a number-one single.

References

  1. ↑ "List of companies related to Thomas Blane Hunter". www.flixens.com. Retrieved 17 June 2016.
  2. 1 2 3 Davey, Jenny (4 January 2009). "The Humbling of Tom Hunter – Page4". The Times. London. Archived from the original on 11 June 2011. Retrieved 4 January 2009.
  3. ↑ Kemp, Kenny (10 February 2002). "How the Westway was won by tycoon". Sunday Herald. Retrieved 26 August 2008.
  4. ↑ Marlow, Ben (4 August 2013). "Hunter's secret role in rescue" – via www.thetimes.co.uk.
  5. 1 2 Times, The Sunday. "Sir Tom Hunter net worth — Sunday Times Rich List 2021". The Times . ISSN   0140-0460 . Retrieved 8 October 2021.
  6. 1 2 "billionaire Hunter tops rich list". BBC News. 28 April 2007. Retrieved 6 June 2012.
  7. ↑ Davey, Jenny (4 January 2009). "The Humbling of Tom Hunter – Page4". The Times. London. Archived from the original on 11 June 2011. Retrieved 4 January 2009.
  8. ↑ Power, Helen (17 December 2008). "Sir Tom Hunter to lose part of Wyevale stake". The Times. London. Archived from the original on 11 June 2011. Retrieved 26 August 2008.
  9. ↑ Editor, Ashley Armstrong, Retail. "Retail veterans stand to make millions from Hut Group flotation". The Times . ISSN   0140-0460 . Retrieved 22 September 2020.{{cite news}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)
  10. 1 2 Scott, Kirsty (2 January 2009). "Profile: Sir Tom Hunter". The Guardian. London. Retrieved 4 January 2009.
  11. 1 2 "Profile on Sir Tom Hunter". YoungEntrepreneur.com. Archived from the original on 10 February 2013. Retrieved 6 June 2012.
  12. 1 2 "Tom Hunter: Meet Britain's most generous tycoon – Profiles – People". The Independent. London. 17 July 2006. Retrieved 6 June 2012.
  13. ↑
  14. ↑ "Rich, Gifted and Scots featuring Tom Hunter, 2001". Scotlandontv.tv. 19 January 2009. Archived from the original on 5 March 2009. Retrieved 6 June 2012.
  15. ↑ "Tycoon invests in schools scheme". BBC News. 21 April 2005. Retrieved 6 June 2012.
  16. ↑ "Contributor Information to the William J. Clinton Foundation". Clintonfoundation.org. Archived from the original on 27 March 2013. Retrieved 6 June 2012.
  17. ↑ "£500k donation from Sir Tom Hunter" (Press release). Music for Dementia. 3 November 2020. Retrieved 12 October 2021.
  18. ↑ "Paul Harvey: Composer with dementia inspires £1m donation". BBC News. 2 November 2020. Retrieved 2 November 2020.
  19. ↑ "Instagram". www.instagram.com. Retrieved 14 November 2024.
  20. ↑ "Scottish entrepreneur Sir Tom Hunter to get top philanthropic award". HeraldScotland. 22 September 2013.
  21. ↑ "Tom Hunter awarded Carnegia Medal of Philanthropy". www.scotsman.com. Retrieved 8 April 2019.
  22. ↑ "Sir Tom Hunter revealed as billionaire who paid to repatriate Alex Salmond's body". www.thetimes.com. Retrieved 17 October 2024.
  23. ↑ "Top 50 donations to Labour in 2001". The Guardian. Retrieved 29 June 2024.
  24. ↑ https://mucklemedia.co.uk/portfolio/scotland-september-18/
  25. ↑ Alumnus of the Year Archived 23 September 2006 at the Wayback Machine
  26. ↑ Sir Tom Hunter 'chuffed' at award, BBC News, 11 June 2005
  27. 1 2 "Sir Tom Hunter sells French villa for £50m". Daily Record. 6 November 2007. Retrieved 4 January 2009.

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.