David Sainsbury |
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David John Sainsbury, Baron Sainsbury of Turville (born 24 October 1940) is a British businessman, politician and life peer for the Labour Party.
He is estimated to have a personal fortune of billions of pounds, due to his shareholding of his family's Sainsbury supermarket chain (estimated at 13%). He was Chairman of the group until from 1992 to 1998 and was Finance Director for the 17 years before that.
He was a supporter of the Social Democratic Party, and bankrolled it, but moved to the Labour Party following the failure of the SDP to make much progress. He has donated millions of pounds to the Labour Party, and was associated with the Institute of Public Policy Research.
He was made a life peer in 1997, following Labour's election victory, and is now Parliamentary Under-Secretary of State for Science in the House of Lords.
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