Yahoo – AFP,
22 July 2014
Billionaire James Packer, one of Australia's richest men, on Tuesday announced he was setting up a philanthropic foundation to give away Aus$200 million (US$188 million).
File photo of Australian billionaire James Packer in Sydney (AFP Photo/Greg Wood) |
Billionaire James Packer, one of Australia's richest men, on Tuesday announced he was setting up a philanthropic foundation to give away Aus$200 million (US$188 million).
The casino
tycoon, who runs worldwide gambling empire Crown, said the cash would go to
charities promoting the arts and those supporting the broader community,
particularly indigenous education.
Half of the
money, to be donated in Aus$20 million installments for the next 10 years, will
come from Crown Resorts, and the rest from the Packer family.
"This
exciting collaboration between Crown Resorts and our family creates a platform
from which to contribute towards strengthening communities in Australia and
developing our artistic future," said his sister Gretel, who will
administer the fund.
Philanthropy
Australia chief executive Louise Walsh said she hoped it would encourage more
of the country's corporate boards and wealthiest people to do the same.
"We
are starting to see some serious mega gifts happening now in Australia and this
is fantastic," she told reporters.
The son of
late media baron Kerry Packer, James Packer is one of Australia's wealthiest
people, with a personal fortune estimated at Aus$7.2 billion.
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