T. Denny Sanford
| T. Denny Sanford | |
|---|---|
Statue of Sanford in front of the Sanford USD Medical Center.
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| Born |
Thomas Denny Sanford December 23, 1935 Saint Paul, Minnesota, United States |
| Alma mater | University of Minnesota |
| Occupation | Owner and founder of First Premier Bank Chief executive officer of United National Corp. |
| Salary | In excess of US$1.0 million |
| Net worth | US$1.4 billion (2012) |
Thomas Denny Sanford (born December 23, 1935 in Saint Paul) is a South Dakota businessman and philanthropist. He is the chairman and chief executive officer of United National Corp.
Sanford made his fortune as the owner of First PREMIER Bank and PREMIER Bankcard, both among the nation's leading credit card providers. Premier Bankcard issues low-limit Mastercards and Visas to credit-impaired customers, charging higher-than-average interest rates and fees. The typical customer stays only 18 months before graduating to a better rate. "We provide a lifeline for credit-impaired people," Sanford told Forbes magazine.
The Denny Sanford PREMIER Center in Sioux Falls, South Dakota, is named for him.
BusinessWeek magazine listed him as one of the top-50 most generous philanthropists in November 2006.
On February 3, 2007, Sanford announced a $400 million gift to Sioux Valley Hospitals and Health System, which renamed itself Sanford Health. Sanford's total philanthropic gifts have exceeded $500 million, and are generally geared toward improving the quality of life for children.
Others receiving significant gifts include:
Sanford graduated from the University of Minnesota in 1958 with a degree in psychology. In 2003, Sanford and the University of Minnesota announced that Sanford would donate $35 million towards a proposed new football stadium for the Minnesota Gophers football team; a deal which would have given him full naming rights. However, that deal fell through in late 2003 when the two parties were unable to reach an agreement on terms of the funding. Later in 2005, TCF Bank won the bid to receive naming rights for the new stadium.
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