Anthony Pratt: ‘I want to give away $1 billion’ to help Australians

AUSTRALIA’S richest man, Anthony Pratt, has vowed to give away $1 billion in an extraordinary act of generosity unmatched in the nation’s history.

AUSTRALIA’S richest man, Anthony Pratt, has vowed to give away $1 billion in an extraordinary act of generosity unmatched in the nation’s history.

The Melbourne-based paper and recycling magnate will follow in the footsteps of some of the world’s wealthiest people by distributing the cash to worthy charities within his lifetime.

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In an exclusive interview for the Sunday Herald Sun, Mr Pratt said he hoped the money would make a difference in the lives of thousands of Australians.

“My goal is to give away $1 billion before I die,’’ he said.

“I can afford to and it’s a great honour and privilege to do so.’’

Billionaire Anthony Pratt. Picture: David Caird

The money will be funded from the cash flows of his business Visy Australia and Pratt USA, which supports initiatives including the Global Food Forums in both countries.

He said he would focus on initiatives that offered social good and were event driven.

Australian organisations set to benefit include The Royal Children’s Hospital, The Murdoch Childrens Research Institute and The Prince’s Trust Australia which funds services to support Aboriginal welfare, veterans affairs and urban renewal projects.

The Melbourne Symphony Orchestra and Opera Australia will be among the organisations within the arts sector that will also get support.

It comes just days after the Visy Australia executive chairman announced he would invest $2 billion to expand the manufacturing business started by his father.

Mining magnate Andrew Forrest donated $400 million to charity this year.

Mining magnate Andrew Forrest, who donated $400 million to charity in May, was among business leaders to commend Mr Pratt for his commitment.

“The challenge we all face is to give with our hearts, mind and soul,’’ Mr Forrest said.

“To invest so that maximum impact is achieved over the longer term and to bring others along to improve the lives of those less fortunate.

“We extend our congratulations to Anthony on this generosity, and more importantly, show of leadership.

“We look forward to following the impact achieved through this contribution and collaborating with Anthony as a philanthropic colleague.’’

Lynda Sherlock’s son, Zac, is assisted directly from a donation fund set up by Richard Pratt and the Murdoch Institute. Picture: Andrew Henshaw

Dick Smith said the Pratt Family were setting an example for the nation’s top 1 per cent to follow.

“I admire what Anthony Pratt and his family are doing,’’ Mr Smith said.

“They are among the few billionaires in Australia who fulfil their obligations to the wider community and give back.’’

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Originally published as Anthony Pratt: ‘I want to give away $1 billion’ to help Australians