Dragons' Den star 'to give bulk of his fortune to charity'

Published on Wednesday 9 April 2008 22:26

DUNCAN Bannatyne, the Scottish entrepreneur, has vowed to leave the bulk of his £200 million fortune to charity.

Mr Bannatyne, 59, a panellist on BBC One's Dragons' Den, is setting up a benevolent foundation to avoid becoming "the richest man in the graveyard''.

Mr Bannatyne made his money through a nursing home business and health clubs, and yesterday he urged other British multi-millionaires to follow suit and leave their money to good causes.

He said: "I believe that giving the money you make away is the best reason for making it in the first place, and that we rich in Britain don't do enough yet.

"I'm a lucky man. It's a fantasy life, what we all dream of. But when I've done all that, I start to think, 'Is there anything else I want to buy?'"

Mr Bannatyne, a father of six, has made a documentary for ITV1 called Britain's Rich List: Giving It Away.

In the programme, set to broadcast on 24 April, he meets some of the country's top earners to find out whether they are donating enough of their fortunes to charitable causes.

Mr Bannatyne said: "I am going to set up my own foundation to give away my money and I hope other rich-listers will be encouraged to do the same.

"That will mean I'm not going to die the richest man in the graveyard.''

He met fellow millionaires including football barons David Sullivan and John Madejski and the richest man in the City, Michael Spencer, to persuade them to leave more money to charity.

Mr Bannatyne added: "I want to find out if they're ready to open up to me and open up their purses.'"