Those of us fortunate enough to thrive at the top must do more to support those struggling at the bottom, not out of guilt or obligation, but because it is the right thing to do and makes us richer in meaning, purpose and legacy, says John Caudwell

This week I had the honour of speaking at the Giving and Impact Summit at the London Stock Exchange, a unique gathering of philanthropists, advisors and policy makers, designed to promote and inspire philanthropy in the UK.

The UK is a generous nation, but not generous enough at the very top. According to the Beacon Collaborative, only around 10 per cent of ultra-high-net-worth individuals are actively engaged in philanthropy.

That figure is unacceptably low. In a country with vast wealth and global financial reach, Britain has an extraordinary opportunity to lead the world in giving. But we need more of those with means to step forward.

My own journey with wealth began with Phones 4u, which I built from scratch into the UK’s leading mobile retailer, eventually selling it in 2006 for £1.46bn. It was a business achievement I’m proud of. But what followed, my work in philanthropy, has brought me far greater fulfilment.

I am a capitalist. I believe in entrepreneurship, in risk-taking and in the rewards of building something from nothing. But capitalism is not incompatible with philanthropy. I believe that great wealth comes with great responsibility.

Those of us fortunate enough to........

© City A.M.