The tycoon, who formed the Golden Casket confectionery company in the 1950s which went on to create popular sweets including Millions, passed away in June, 2018, aged 87.
Set up own businessHis wealth included property, a shares portfolio, cars, household furniture and personal effects.Mr Rae, of Kilmacolm, Renfrewshire, instructed that his estate should be left to his wife Adrienne.After leaving school at 16, Mr Rae entered the service of the North of Scotland Bank's Greenock office, quickly moving up the ladder.He grew tired of the poor pay and travel involved with his banking career and decided to start his own business.
Multi-million pound confectionery firmHe formed Golden Casket (Greenock) Limited in 1959, which he initially operated from the back of a van, selling confectionery to retailers. Mr Rae remained at the helm for 49 years before retiring.The company grew to become one of the largest confectionery manufacturers in Scotland, employing more than 200 people with an annual turnover in excess of £22 million.On a voluntary basis, Mr Rae served for more than 29 years in golf administration. In 1998 he was presented the Torch Trophy for 'Services to Golf' by the Duke of Kent.In 2001, Greenock Morton Football Club was plunged into administration and the club was close to folding.As a lifelong supporter and ex-director of the club, he bought it at the eleventh hour and promised to transform the stadium, to invest in playing and management staff and in a substantial youth programme.The businessman was married to Adrienne for 61 years, with three children, Alastair, Crawford and Gillian, and ten grandchildren.
Watched footballing iconsIn 2016, he was awarded an OBE, which he received from the Duke of Cambridge.In a statement released following his death, Greenock Morton said: "It is with profound sadness that we announce the passing of honorary club president and former chairman Douglas Rae OBE."Born on 14 June 1931, Mr Rae attended his first Morton match aged eight alongside great friend Arthur Montford and held a season ticket each and every season thereafter until joining the board in 1988."As a supporter, he saw the club participate in national cup finals and watched as footballing icons such as Sir Stanley Matthews and Tommy Lawton turned out for the Ton as wartime guests."