RICHEST MEN IN THE WORLD

Opotiki News, Volume II, Issue 257, 10 November 1939, Page 2 (Supplement)

RICHEST MEN IN THE WORLD

There are quite a number of millionaires who do good b) stealth, whose gifts are nevei made public. Even so, it is unliked v that any of them have ever given awav so much money as Lord Nuffield, whose gifts now total the astounding sum of £10,000,000. .People often remark, “Lord Nuffield must have given away almost his entire fortune.” Yet the great pioneer of cheap British cars still has a fortune of £20,000,000 and an income of £BOO,OOO a year. ; Only thirty years ago he was plain and poor “Bill” Morris of Oxford, tinkering with cycle repairs. In 1910 he conceived the idea of making, cars and spent two years on the design, of his first model before producing;it. Into his project he plunged all his life savings and a few thousands from an outside source. A disused school was converted into a factory, and by 1914 William Morris had turned out 400 Morris Oxfords.

Continued from Last Issue

In the post-war slump he suddenly cut the price of all models by £IOO, and thus swamped his factories with orders. Back into the business went every penny, Sir William Morris, as the only Ordinary shareholder, being content with his salary as ManagingDirector. Last year he grew bored with working for himself and offered shares to the public. On the Stock Exchange there was a mad rush to secure them. Despite his riches, Lord Nuffield lives in simple fashion on the Heights of Huntercombe, above Henley-on-Thames. Of his utter disdain for social life he makes f no secret. ••• , ' Among the millionaires who are “anonymous” givers—that is, who give in secret and are afterwards annoyed to find out that news of their generosity has reached the public —the greatest is undoubtedly Joseph Rank. Known as “Old Joe” on the Baltic Exchange, Mr. Rank is

worth between £20,000,000 and £25,000,000 and at eighty-four remains the active chairman of the famous flour-milling firm. Bountiful to many an industrial town, to his native Hull and to the Wesleyan (Methodist) Church, he has given to the latter organisation alone between £4,000,000 and £5,000,000. Naturally, liis name has never been mentioned publicly in connection with these gifts, but behind the scenes it is known that he was the donor. So modest is “Joe” Rank that only three lines appear about him in “Who’s Who.” He has never •4:cen inter vie wecC- -and-only--once-or twice has a photographer managed to snap his rugged, cleanshaven features. In 1874, when Joseph Rank was 21 and the third generation of a flour-milling concern, he bought his own steam-driven mill with £250 left him by his father. With more nerve than cash, he added two more. Later, finding his working capital re-

stricted, he indulged in his usual habit of praying for guidance. The answer was “ Buy!” Rushing down to the Corn Exchange Rank bought, pulled off a huge deal, soon acquired more mills, and by the time he was thirty had acquired his first million.

Moving south, he became so wealthy through war profits that his conscience sent him to Lloyd George with a non-profit scheme. But Britain’s wartime Premier could do nothing, and told him to go ahead. Mr. Rank made another £4,000,000 and handed over the #.\utv'e- s,um tto the Bop,rrl of Trustees for the/ benefit of Methodism. All over provincial cities his tgi&g sion churches sprang up whiljjl - personally plodded through streets inspecting the buiJ|M|l sites.

Lik.e Lord Nuffield, Joe has never changed his mqj life, lives modestly at R| Surrey, and every Sunday

to Tooting carrying his lu;

a paper bag and eating it in the vestry.

Sounded by political parties on the question of a title, Mr. Rank snorted, “What would I do with a title? I’m Joe Rank to everybody. I’d look fine as Lord Joe.”

The . Empire’s most romantic millionaire is Sir Abe Bailey, the Soldier of Fortune who worked for his father’s general and liquor business at Queenstown and Baileytown in the ’nineties. Abe Bailey was a gold prospector, a bare-back circus rider, a boxer who beat the champion, a rowdy who fought a police- - niim,-.-. (anv y eariy l - Johannesburg , sanitarF inspector • who rode around the town before break■■■■ttmg out the odours.

■nt through the Jameson ||was sentenced to two Ihprisonment, and served lew weeks, fought in the far *ind set up as a share I with a capital of one

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