Staffordshire billionaire John Caudwell has been given an honorary degree by Birmingham City University in recognition of his charity work.
Mr Caudwell, whose £1.5 billion fortune earned him second place on the Birmingham Post Rich List published last week, received the honour at a ceremony in the city’s Symphony Hall.
The Phones4U founder set up Caudwell Children in 2000 to help provide specialist equipment, treatment and therapy for sick and disabled children in the UK. His aim was to create a sustainable charity where all funds donated were used directly to change the lives of children.
As Caudwell Children’s largest benefactor, he personally donates the cost of the charity’s annual management and administration overheads and sits as chairman of the board of trustees alongside its ambassadors including actresses Joan Collins and Elizabeth Hurley; Rod Stewart and Penny Lancaster.
Mr Caudwell also has interests in other leading charities, including the Princes Trust, The Elton John Aids Foundation, The Gorbachev Foundation and the NSPCC.
The Midlands’ richest self-made man first tasted success in the mobile phone industry in the 1980s, when he invested in 26 mobile phones.
In the first two years of business, he lost £2,000 a month but his faith in the fledgling mobile phone market was justified and, a year later, he had turned a £24,000 annual loss into a £500,000 profit.
By 2009, he was the Midlands richest person and held that mantle until former beauty queen from Stone Kirsty Bertarelli took top spot after marrying a multi-billionaire.