The Mayor of London, Boris Johnson, and Deputy Mayor Ray Lewis have paid tribute to Jack Petchey, the East London entrepreneur, for his contribution to London’s young people.

Over a hundred people gathered at City Hall on 1st July to celebrate the milestone of £50m being awarded by the Jack Petchey Foundation to education and training programmes which have benefited around 500,000 young people, aged 11-25, across the capital. This year alone £20m will be awarded, and Petchey plans to donate another £100m over the next eight years.

Recent examples of Petchey's grants include £2,000 given to East End Opera to help with their vocal scholarships project, and £25,000 to set up a young people's advisory group for the NSPCC.

Johnson, who will be launching the Mayor’s Fund for London later this year, said, “I hope Jack’s work inspires others in London to do the same and use their good fortune to make this great city even better.”

Set up in 1999, the Foundation awards grants through a variety of programmes including: Achievement Award Scheme; Leader Award Scheme; Project Grants and sponsorship. The Achievement Award Scheme operates in 92% of state secondary schools in London and Essex.

Petchey said “I do not want to be remembered for giving £50m, £100m or £150m, but I do want to have the satisfaction of hearing that the lives of young people have been enhanced by the Jack Petchey Foundation.”