
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.
GMT 15:13 2018 Saturday ,20 January
US 'erred' in supporting WTO membership for China, RussiaGMT 17:22 2018 Thursday ,18 January
US industrial output in 2017 posts biggest gain since 2010GMT 17:12 2018 Thursday ,18 January
No more bonuses for Carillion bosses after UK collapseGMT 17:20 2018 Wednesday ,17 January
EU to remove Panama, South Korea from tax haven blacklistGMT 17:16 2018 Wednesday ,17 January
Citigroup reports steep Q4 losses tied to US tax reformGMT 17:11 2018 Wednesday ,17 January
Pressure rises on British govt over Carillion collapseGMT 17:52 2018 Monday ,15 January
Iran jetliner deal could take longer to complete, Airbus saysGMT 17:44 2018 Monday ,15 January
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor