Mega wealthy John Caudwell doesn’t want to be best known as a billionaire when he dies.
“I hate the title,” he says, adding “Personally it is not important. “To die a billionaire is not very important to me,” says the tycoon, insisting he wants to be known as a philanthropist. “The act of being a billionaire is not about how much wealth you create, it’s what you do with it.”
In 2013 the businessman, who made his fortune from the Phones4u chain, was one of the first British billionaires to agree to the Giving Pledge, a movement founded by Microsoft founder Bill Gates, wife Mellissa and fellow billionaire Warren Buffet that encourages the world’s wealthiest people to give back and address some of society’s most pressing challenges.
Mr Caudwell, who backed Labour ahead of the election, estimates he has personally donated between £40million and £50million to charity already but has vowed to give 70% of his fortune away during his lifetime and after he dies. Interviewed by the Mirror at his £250million mega-mansion in London, believed to be Britain’s most expensive home, he says donating gives him a “sort of spiritual feeling.” However, he is critical of some other super-rich. On Amazon founder Jeff Bezos, he said: “If he gave 99% away, he would still be richer than me, and he doesn’t even have to do it in his life time.”
He is more scathing of Elon Musk, the world’s richest person who controversially backed Donald Trump ahead of the US Presidential election. “I’ve lost a lot of respect for him,” he said. “I don’t like people using wealth like that to influence a political outcome which I’m guessing is entirely in his own favour because he wants Trump in so he can have a seat at the table. It is bribing the American electorate.”
His comments came as the 72-year-old gave his support to a 17-year-old former Dragons’ Den contestant. A-Level student Shaye Bhattessa-Sharma made history when, aged just 15, he went on the BBC show with father Raj to pitch for backing for his football-themed board game. Dragon Peter Jones said he would stump up £50,000 for a stake in the venture, although it didn’t happen in the end. Shaye, from London, explains: “After the show, it didn’t really come together. It was mutual discussion we had.”
He is now launching a Billionaire version, which brings in the idea of good cause giving, plus 10% of the sale price will go to Mr Caudwell’s charities. “The impression of billionaires is that they’re not always positive. But I know a lot of them give back,” says Shaye. “John has always been an inspiration.” Father-of-seven Mr Caudwell adds: “It struck a cord with me. Why wouldn’t I help a young guy on his entrepreneurial venture while promoting the charity at the same time? It was no-brainer.”
The magnate grew up in Stoke-on-Trent. His mum worked in the post room of Royal Doulton potteries and his dad for an engineering company. The founder of Phones4u made a fortune after selling the business. According to The Sunday Times Rich List, John is the 109th richest person in Britain, worth £1.54billion.
The entrepreneur splits his time between Britain, where he owns £12million Jacobean Broughton Hall in Staffordshire, which is his main base, plus lavish homes in London’s Mayfair and Monaco.
The mind-boggling Mayfair mansion is 43,000 sq ft, over eight-floors, with 15-bedrooms, complete with an underground eight-stack car port. It also boasts five kitchens, a private cinema, spa, nightclub, a gilded ballroom capable of holding 120 people, and a dining room with an indoor stream and a 15ft preserved tree trunk crowned with silk cherry blossom and golden lizards climbing the wall. The 1880s mansion is actually two joined together, one of them once owned by the Sultan of Brunei’s brother. Other trapping of wealth include his 73m luxury superyacht Titania. The £80million floating palace was used in The Crown for the Princess Diana scenes.
Unlike other super-rich, he doesn’t own a private jet, instead opting to fly budget airline easyJet. The last time he was on board the Titania in Monte Carlo, he had ridden three days across Europe on his Harley Davison motorbike.
His Caudwell Children charity for disabled and autistic children celebrates its 25th anniversary next year. He also has mentoring charity Caudwell Youth.
“This is statistic that disappoints me massively,” says Mr Caudwell, whose partner is former Olympic cyclist Modesta Vzesniauskaite, aged 41, with whom he has two young children. “There are probably something like 6,000 billionaires in the world, as a guess. There are only 250 that are part of the Giving Pledge. When I approach people about it, they are a bit horrified and shocked. They can’t quite get their head round why they would give that sum of money away.
“My argument is, you don’t lose your billionaire status. The pledge is that you will give it away during or after your lifetime. And what are you going to do with the money? I don’t understand why more people don’t join because the benefit to yourself personally of knowing you have helped thousands of people is a sort of spiritual feeling. It is something in your heart and soul that makes you feel good about life. Much better than going and spending £500 on a meal in London.”
Looking back to growing up, he says: “Having an ill father, the biggest motivation of all was initially was to gain financial security in case I became ill myself. When you come from nothing, you want to be financially secure. Certainly in case of illness because that can happen to anyone at any time. If you are ill and poor, that is one hell of a horrible life.
“My dream as a seven year-old was driving around in a chauffeur driven Rolls Royce handing £5 notes out to the poor people in the streets of Shelton, which is a poor area.”
Mr Caudwell’s pre-election backing for Labour was a coup for the party, given he was previously a Tory donor. So, what did he think of Chancellor Rachel Reeves’ first Budget, whose tax raising measures included a national insurance hike for employers?
“Overall, the burden has been shared generally among most members of society,” he answers. “It is reasonably fair. Nobody wants to pay more tax but what was missing for me from the Budget was, where are the cost savings going to be and the efficiencies of the public sector?”
The interview came after Kemi Badenoch became the new Tory leader. Asked for his initial verdict, he insisted “I don’t know enough about her to comment. I hear that she’s fairly right wing in her view point. I don’t see the Tories as being very relevant at the moment.”
