Isaac Wolfson

Sir Isaac Wolfson, 1st Baronet FRS (/ˈwʊlfsən/; 17 September 1897 – 20 June 1991) was a Scottish businessman and philanthropist. He was managing director of Great Universal Stores (G.U.S. or Gussies) 1932–1947 and chairman 1947–1987. He established the Wolfson Foundation to distribute most of his fortune to good causes. Great Universal Stores was a mail order business. He joined the company as a merchandising controller in 1932, becoming joint managing director in the same year. The company was in trouble when he joined but he turned it round and made it into a very strong business and the principal source of his wealth. He also had other successful business ventures. He was succeeded by his son Leonard Wolfson.

Isaac Wolfson was the son of a Jewish cabinet maker, Solomon Wolfson, an immigrant from Rajgród, Poland who settled in the Gorbals in Glasgow, Scotland. His mother was Nechi Surah Wilamowski. He was educated at Queen's Park School, Glasgow.

He was highly capable in mathematics but could not afford to train as an accountant so he became a salesman for his father, who made cheap tables and chairs for local people. He is said to have been a brilliant salesman. At this time he made many business friends who worked with him ever afterwards.

In 1920 he left for London. There he started his own business, selling clocks, mirrors and upholstery. In 1926 he married Edith Specterman. His father-in-law owned a chain of suburban cinemas and helped him financially in his early days.

In 1930 he was exhibiting at a trade fair in Manchester City Hall. George Rose was then a director of Great Universal Stores, only just renamed from mere Universal Stores. Rose liked Wolfson's display and ordered 500 clocks, which for Wolfson at the time was a big order. Rose took Wolfson to lunch and showed him the G.U.S. Devonshire Street factory. Soon Wolfson was G.U.S.'s chief buyer but he retained his own business and from G.U.S. took profit share and share options in lieu of salary.

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