Redrow chairman Steve Morgan gave £200m of shares to his Morgan Foundation
Redrow chairman Steve Morgan gave shares worth £200m to the Morgan Foundation, a charity he founded in 2001. Morgan donated a total of 42 million shares, comprising 11.4% of Redrow's share capital. Since its launch, the Morgan Foundation has committed £35m to charitable causes in north Wales and northwest England. Redrow's revenue rose by 23% year on year for the last six months of 2016 to hit a record £739m, while last year's Sunday Times Rich List revealed Morgan's net worth was £880m. 
Redrow chairman Steve Morgan has given shares worth £200m to the charitable foundation he created in 2001.

The Morgan Foundation has committed £35m to charitable causes in north Wales and the North-west since being launched 16 years ago.

Mr Morgan has a net worth of £880m according to last year’s The Sunday Times Rich List.

He has donated the money in the form of 42m shares, or 11.4 per cent of the issued share capital of Redrow plc.

The Morgan Foundation administrator Jane Harris 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 more than £200m means we will be able to help thousands of more people in need.”

Redrow saw revenue rise by 23 per cent year-on-year for the six months to 31 December 2016 – the first half of the company’s financial year – hitting a record level of £739m.