British politician Lord Sainsbury has an estimated net worth of $1.1 billion as of 2015, according to Forbes. Sainsbury attended University of Cambridge King’s College and earned his MBA from Columbia Business School.
Sainsbury is the great-grandson of the grocers, John Sainsbury and Mary Staples, the founders of the supermarket chain Sainsbury’s. Between 1992 and 1997 he served as Chair of Sainsbury’s.
His political involvement dates back to his membership of the Labour Party in the 1960s before changing allegiances to the Social Democratic Party in the 1980s. Sainsbury rejoined the Labour Party after the collapse of the SDP. He was made a life peer after Labour’s landslide victory in 1997, serving as a government minister between 1998 and 2006. In that time he donated £12 million to the Labour Party. His family has donated almost £2bn to charitably since 2008.