The Liverpool-born founder of housebuilder Redrow has pledged to meet the cost of bringing 1,000 Ukrainian refugees to the UK.
Philanthropist Steve Morgan has also called on the British government to "stop delaying" and added he has been "moved to tears" by the sight of more than two million Ukrainians fleeing their country following the invasion by Russia.
Mr Morgan, who has supported millions of vulnerable people since the launch of the Steve Morgan Foundation in 2001, hopes other philanthropists will follow his lead.
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He said: "Watching the humanitarian crisis unfold in front of our eyes is absolutely devastating. We have to stop the suffering and Boris Johnson and Priti Patel have to stop the delays.
"Offering to sponsor 1,000 Ukrainian refugees to come to the UK through the Steve Morgan Foundation is one way we can help but we need to do more."
Mr Morgan has also pledged to pay for their accommodation costs for up to six months.
He said: "I felt so helpless watching the images of desperate families fleeing Ukraine that I knew I had to do something.
"The Steve Morgan Foundation hasn’t got the facilities to do it ourselves but we can meet the cost of bringing up to a 1,000 refugees to the UK. This is not the time for delays. I hope other people will do the same."
The entrepreneur founded Redrow in 1974 and exited the business in 2019.
The Steve Morgan Foundation last year distributed a record £25.8m to charities struggling with the pandemic.
