He set up the Bannatyne Foundation earlier this year, following in the footsteps of fellow entrepreneurs Bill Gates and Tom Hunter. The organisation aims to help causes all over the world.
Bannatyne has already made substantial donations to various charities, usually espousing organisations that help deprived children. He made the announcement while attending an event promoting the Easterhouse charity FARE, which helps kids and adults in the area. Bannatyne himself grew under in tough condition in Clydebank, West Dunbartonshire.
He told The Herald: “It very much reminded me of my own childhood and how I was brought up. These kids are even more deprived than I was and it shouldn’t be happening now – my childhood was 50 years ago, and this should be stopped now.”
The Scottish entrepreneur is well known for his philanthropic endeavors, having starred is programmes such as Fortune – Million Pound Giveaway, and The Rich List Give It Away. He’s also received an OBE for his work with a Romanian hospice for orphans with HIV and AIDS.
Bannatyne told the paper: “It’s my ambition to give away all my money before I die, not after. This means that £310m should be going to charity, though I hope to make that half-a-billion by the time I die.”
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