Henry Wellcome – born in a log cabin in Wisconsin. Founder of The Wellcome Trust, UK’s largest charity with an endowment of £10 billion. This was the first known endowment created directly from donation of corporate shares.
- Henry became a well-connected individual. He trained as a pharmacist and was student of William Mayo, founder of the Mayo Clinic. He partnered in business with Silas Burroughs and set up a hugely successful pharmaceutical firm.
- His will established The Wellcome Trust, directing the profits of his company were to be used for medical research.
- This was the first time in the UK that “a bequest was made whereby trading profits were dedicated to the benefit of mankind”.
- He was influenced by other benefactors, including the famous
Dr. Barnardo (Wellcome married Dr. Barnardo’s daughter). - He was a passionate collector and at one point his collection was “out of control” with 5 times more items than the Louvre.
- He employed a network of agents around the world to buy for him, and while at auctions disguised himself in simple clothes. “A top hat usually excites the dealer and the higher the hat the higher the price."