T. Denny Sanford

Thomas Denny Sanford
Born	(1935-12-23) December 23, 1935 Saint Paul, Minnesota, U.S.
Occupation(s)	Businessman, philanthropist
Known for	Founder of First PREMIER Bank; chairman and CEO of United National; major philanthropic donations

Thomas Denny Sanford (born December 23, 1935, in Saint Paul) is a prominent businessman and philanthropist based in South Dakota. He established First Premier Bank and currently serves as chairman and CEO of its parent company, United National.

Career

Sanford's mother immigrated from Sweden and her family settled in Chicago, while his father grew up on a farm in Illinois. At the age of eight, Sanford began working in his father's garment business. He enrolled at the University of Minnesota intending to pursue medicine but switched to psychology after struggling with chemistry, earning his degree in 1958. Sanford amassed his wealth through ownership of subprime credit card companies First PREMIER Bank and PREMIER Bankcard. These institutions focus on issuing high-interest credit cards to consumers with poor credit ratings. In 2007, Sanford agreed to pay $4.5 million to settle accusations from the New York Attorney General related to misleading marketing tactics. The banks offered credit cards with interest rates reaching 79.9% and imposed low credit limits, drawing criticism from public figures such as Senator Bernie Sanders for predatory lending practices.

By 2018, Sanford was listed at #1103 on the Forbes World's Billionaires index, with an estimated net worth of $2.2 billion.

Personal life and education

Born in Saint Paul, Minnesota in 1935, Sanford lost both parents by age 20. He was sentenced to juvenile detention for alcohol-related offenses and fighting but was released early under the condition that he attend the University of Minnesota, where he graduated in 1958. He has two sons from his first marriage. In 1995, he married Colleen Anderson; they divorced a decade later in 2005.

Legal issues

In 2020, Sanford became subject to an investigation concerning possession of child pornography following a search warrant that led to referral to the United States Department of Justice. This inquiry caused several organizations to reevaluate their connections with his philanthropic activities. The investigation proceeded at both state and federal levels until early 2022; by May 2022, the South Dakota Attorney General closed the case without filing charges. Documents unsealed in 2023 revealed that an AOL email account linked to Sanford contained images of nude minors; however, evidence indicated multiple individuals had access to this account, including potential unauthorized users.

Sanford joined The Giving Pledge in 2010 but was removed from the initiative in May 2023 after investigative records were made public, resulting in his exclusion from its events.

List of philanthropic gifts

Sanford has committed to distributing his entire wealth during his lifetime, supporting numerous educational and healthcare organizations without establishing a formal foundation or maintaining permanent staff. In 2006, BusinessWeek recognized him among the top 50 philanthropists nationwide. By October 2018, his total donations exceeded $1 billion.

• In 2006, he contributed $70 million to South Dakota's Science and Technology Authority to secure a deep underground science laboratory at the former Homestake Gold Mine.
• On February 3, 2007, Sanford donated $400 million to Sioux Valley Hospitals and Health System, which subsequently rebranded as Sanford Health. This donation was highlighted by The Chronicle of Philanthropy as one of the leading charitable gifts in America for that year.
• In 2009, he provided $6 million toward enhancements at the University of Minnesota's football stadium and gave $100 million to establish a breast cancer foundation named after his mother. The university also honored him by naming its athletic hall of fame for him.
• In 2013, Sanford gave $70 million toward the Sanford Underground Research Facility at Homestake Mine and $100 million to UC San Diego for the Sanford Stem Cell Clinical Center—the university’s second-largest gift ever. Additionally, he pledged $10 million to the Crazy Horse Memorial following a prior matching commitment.
• In 2014, he donated $125 million to Sanford Health for its Imagenetics program and $1 million to National University for creating the Sanford Education Center. Consequently, National University's School of Education was renamed the Sanford College of Education. The Denny Sanford PREMIER Center in Sioux Falls also bears his name due to his contributions.
• In 2018, he established a $30 million endowment within the Horatio Alger Fund aimed at providing scholarships for students facing financial or medical hardships and contributed another $30 million for renovations at the San Diego Children's Zoo.
• In 2019, Sanford made an additional gift of $350 million to National University, which intended to rename itself Sanford National University in recognition; however, this renaming was postponed amid ongoing child pornography investigations involving Sanford.
• In 2021, he gave $350 million to Sanford Health to develop a virtual care center designed to broaden healthcare access throughout rural and underserved areas across the Midwest.

See also

• List of notable individuals from South Dakota
• List of University of Minnesota alumni