NOTHING NEW UNDER THE SUN (ALMOST)
22nd August, 1963 : Britain’s most successful car tycoon has died, aged 84. Lord Nuffield made a second career giving away the £27 million he had earned in the first. Born William Morris, he started in business as an apprentice cycle mechanic. His greatest gift was to set up the Nuffield Foundation and endow it with £10 million of ordinary stock in his Morris Motors. When car sales slumped after World War I, he achieved his most striking coup by cutting his prices by £100. He soon made a fortune with mid-price family cars. He became a baronet in 1929, and then a peer. He gave up his directorships ten years ago.