Steve Morgan CBE has gifted over £200 million to The Morgan Foundation in a move which will benefit thousands of charities and community groups, particularly those helping children and families in desperate need. The donation is believed to be one of the largest ever made by a British businessman.
The donation marks a new era – and a huge step change – for the charity, which was formed by Steve Morgan in 2001. Since that time it has committed £35 million to good causes in North Wales, Merseyside, West Cheshire, and North Shropshire, establishing itself as one of the biggest charities in the region. In addition, The Morgan Foundation has distributed 47 specially-adapted smiley buses.
The donation has been made in the form of 42 million shares to The Morgan Foundation, representing 11.36% of the issued share capital of Redrow PLC.
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."
For more details on The Morgan Foundation visit: