William Morris founded Morris Motors Limited in 1913 and in 1924 created Morris Commercial Cars Limited to design and manufacture commercial vehicles. He was knighted and later received the title, Lord Nuffield. Lord Nuffield set up the Nuffield Foundation in 1943 with a capital of 10 million pounds, the Foundation today is worth £220 million. The Foundation supports projects in the area of Education and Social Welfare. Morris combined with Austin in 1951, and created the British Motor Corporation and this was taken over by Leyland in 1970.