Wellcome Trust

Wellcome Trust

Non-profit
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Wellcome Trust

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Description:
The Wellcome Trust was established in 1936 as an independent charity funding research to improve human and animal health. With an endowment of around £13.9 billion, it is the United Kingdom's largest non-governmental source of funds for biomedical research., the aim of the Trust is to "achieve extraordinary improvements in health by supporting the brightest minds", and in addition to funding biomedical research it supports the public understanding of science.

History

The Trust was established to administer the fortune of the American-born pharmaceutical magnate Sir Henry Wellcome. Its income was derived from what was originally called Burroughs Wellcome, later renamed in the UK as the Wellcome Foundation Ltd.Hall, A.R. & Bembridge, B.A. Physic and philanthropy: a history of the Wellcome Trust 1936–1986. Cambridge (UK): Cambridge University Press, 1986. ISBN 0-521-32639-7 In 1986, the trust sold 25% of Wellcome plc stock to the public. Overseen by incoming Director of Finance Ian Macgregor, this marked the beginning of a period of financial growth that saw the Trust's value increase by almost £14bn in 14 years, as their interests moved beyond the bounds of the pharmaceutical industry. In 1995, the trust divested itself of any interest in pharmaceuticals by selling all...
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