Home   Folkestone   News   Article

How much the De Haan family has spent on improving Folkestone revealed in Sunday Times Rich List

By Eleanor Perkins

The De Haan family, the billionaire former owners of Saga turned philanthropists, have seen their wealth squeezed as they continue to plough their fortune into improving their home town of Folkestone, the latest Sunday Times Rich List has revealed.

It has long been known that Sir Roger De Haan and his brother Peter have been financially backing efforts to regenerate the seaside town since they sold their share in the travel and insurance business for £1.4 billion in 2004.

Yet the latest edition of the Sunday Times Rich List reveals their personal fortune has fallen marginally as they put more cash into projects to revive Folkestone.

Sir Roger De Haan and his brother Peter have fallen seven places in this year's rich list Picture: Gary Browne
Sir Roger De Haan and his brother Peter have fallen seven places in this year's rich list Picture: Gary Browne

The pair have fallen seven places in this year's list.

The siblings' £884 million fortune ranks them at 165th on latest barometer of financial success, having last year taken the 158th spot with a worth of £890m.

The £6m difference is a likely result of their charitable spending to boost the town.

Through their charitable trusts – their financial affairs are now separate although aggregated for Rich List purposes – they have invested substantial sums in education, the arts, wildlife, welfare organisations and Folkestone.

Last year, Sir Roger, 70, who owns the port of Folkestone, gave a £3m donation to his charitable trust, which spent about £7.5m on arts and sports.

But previously, they have injected £18m into sports projects and £42m on the arts and creative industries which has played a major part in the regeneration of the town.

His cash injections are behind the successes of the Creative Quarter, Folkestone Harbour, Three Hills Sports Ground and the Marlowe Academy, Thanet.

Their money comes from the £1.35 billion of the Saga empire
Their money comes from the £1.35 billion of the Saga empire

The sons of Saga founder Sidney De Haan made most of their money from the sale of the Folkestone-based over-50s travel and financial services group for £1.35bn in 2004.

Peter, 67, runs a wine business and property company.

For the latest business news, click here.

Read more: All the latest news from Folkestone

Join the debate...
Comments |

Don't have an account? Please Register first!

The KM Group does not moderate comments. Please click here for our house rules.

People who post abusive comments about other users or those featured in articles will be banned.

Thank you. Your comment has been received and will appear on the site shortly.

 

Terms of Comments
We do not actively moderate, monitor or edit contributions to the reader comments but we may intervene and take such action as we think necessary, please click here for our house rules. If you have any concerns over the contents on our site, please either register those concerns using the report abuse button, contact us here, email multimediadesk@thekmgroup.co.uk or call 01634 227989.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More