William Gross, who owns one of the world’s largest stamp collections, will sell his British Empire stamp collection for charity.

The auction, on 3rd October in New York, is expected to raise over $1.25m (£680,000) for the Millennium Villages Project of the Earth Institute at Columbia University.

The project helps rural African communities lift themselves out of extreme poverty through community-led development. Working across 10 African countries, the project to date has reached nearly 400,000 people in 79 villages.

Gross has already sold his British stamp collection, for $9.1m (£5m), and his Scandinavian stamp collection, to donate money to Medicine Sans Frontières as well as the Millennium Villages Project.

Gross, and his wife Sue, said, “We again selected the Millennium Villages Project because they are developing unique health, education, agriculture and infrastructure programs to help some of the poorest people throughout the African continent escape from extreme poverty. The success of these projects is made possible with private sector assistance.”

Professor Geoffrey Sachs, director of the Earth Institute, said, “We are deeply honoured and inspired by Sue and Bill Gross. The stamp auction is a brilliant and creative example of how individuals can help to lead the global fight against poverty, hunger and disease.”