Australian mogul Packer gives away US$188 mil.
July 23, 2014, 12:15 am TWN
SYDNEY--Billionaire James Packer, one of Australia's richest men, on Tuesday announced he was setting up a philanthropic foundation to give away AU$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 AU$20 million installments for the next 10 years, will come from Crown Resorts, and the rest from the Packer family.