Sir Tom Hunter, the former owner of Sports Division, has pledged to invest £1 billion in various projects via his charitable organisation The Hunter Foundation. Sir Tom and Lady Marion Hunter intend to invest the majority of their profits from their private equity vehicle West Coast Capital into the foundation.
“The aim is to redouble our efforts in wealth creation through West Coast Capital in order that we can, over time, invest £1 billion in venture philanthropy through our foundation. Great wealth brings with it great responsibility,” says Hunter.
Hunter’s spokesman added that The Hunter Foundation would focus on three critical issues in its investments, where it would generally partner with governments: poverty alleviation in Africa, prevention of young people becoming NEET (not in education, employment or training) and in developing system-wide and personal leadership talents.
Hunter’s retail career began when he started selling trainers from the back of a van. He’s now quoted as Scotland’s richest man.