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David John Sainsbury, Baron Sainsbury of Turville (born 24 October , 1940 ) is a British businessman, politician and Life Peer for the Labour Party . He is the son of Sir Robert Sainsbury and the nephew of Alan Sainsbury, Baron Sainsbury Of Drury Lane . His cousin is the Conservative peer Lord Sainsbury Of Preston Candover . He is estimated to have a personal fortune of billions of pounds, due to his shareholding of his family's Sainsbury supermarket chain (estimated at 13%). He was Chairman of the group from 1992 to 1998 and was Finance Director for the 17 years before that. He has a BA degree in History and Psychology from King's College, Cambridge and a MBA from Columbia University . He was a supporter of the Social Democratic Party , and bankrolled it, but moved to the Labour Party following the failure of the SDP to make much progress. He has donated millions of pounds to the Labour Party, and was associated with the Institute For Public Policy Research . He was made a life peer in 1997 , following Labour's election victory, and in July 1998 , was appointed Parliamentary Under-Secretary Of State at the Department For Trade And Industry with responsibility for Science and Innovation. in the House Of Lords . SEE ALSO EXTERNAL LINKS
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