When T. Denny Sanford died on July 18 at 90, he had moved toward fulfilling the goal he once described to Forbes in 2007 as wanting to "die broke."
Over the course of his life, Fortune detailed how the South Dakota financier donated more than $4 billion to hospitals, local organizations, and more in his home state.
What happened?
Long known for banking in South Dakota, Sanford later became one of the state's most influential donors, spending years directing large portions of his wealth back into the state.
Even after those gifts, his fortune was still estimated at $2.4 billion in March.
According to Fortune, Sanford's lifetime giving exceeded $4 billion, and roughly $2 billion of that went to the health system that carries his name. That funding helped expand a regional hospital into a rural health care network.
His wealth came from First Premier Bank and its credit card arm, Premier Bankcard, which issued high-interest cards to people with poor or limited credit. That business made him a billionaire, but it also drew scrutiny over the steep costs customers paid, Fortune noted.
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Why does it matter?
Sanford's giving reshaped daily life in a largely rural state, where a single major donor can have an enormous impact.
His money helped fund health care, scholarships, scientific research, and child-focused services that reached communities far beyond Sioux Falls, South Dakota.
In a statement, South Dakota Gov. Larry Rhoden called Sanford the "greatest philanthropist in South Dakota history."
Fortune reported that the governor's office also cited support for programs and organizations including the Sanford Underground Research Facility and the Children's Home Society of South Dakota.
"Beyond his high-profile gifts, Denny was a key reason that Sioux Falls has such a strong culture of philanthropy, and many important community improvements benefited from his support," Lt. Gov. Tony Venhuizen added in the governor's statement.
What's being done?
Sanford's philanthropy is already set to keep working after his death.
As Fortune reported, Sanford's legacy "does carry a shadow," including criticism of the lenient banking practices he used to make his profit. There was also an unsettling investigation into allegations of possible child pornography possession in 2020, as ProPublica reported. Sanford's attorneys argued that his devices showed signs of hacking and noted others also had access to them. Ultimately, no chargers were filed after the South Dakota attorney general determined there was no "prosecutable offenses" within the state's jurisdiction, per WRIC.
Looking to the future, people are optimistic that his donations will have a positive impact on healthcare and other community needs now.
"His contributions will not be forgotten, and South Dakota will forever be impacted by his legacy," Rhoden declared in his statement.
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