Sydney millionaire Neil Balnaves gives away $20m fortune after almost dying in a boat accident

SINCE he nearly died in a boat accident, former TV executive Neil Balnaves has been giving away his fortune - to the tune of $20 million.

Neil Balnaves (centre) is a life member of the Belvoir Theatre along with (L-R) Neil Armfield, Rachel Healy, Geoffrey Rush, Louise Herron, Andrew Cameron and Sue Hill.

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A POWERBOAT came flying around a bend in the Coomera River on the Gold Coast and changed Mosman millionaire Neil Balnaves’ life forever.

When moments later it ploughed in to his runabout, it almost killed the swashbuckling TV executive. He’s been giving away his money ever since.

The accident left the man who’d run Southern Star Television - bringing shows such as Blue Heelers, Water Rats, The Secret Life of Us and Big Brother to Australian screens - on life support for three weeks.

Neil Balnaves on the set of Water Rats in 2000. Picture: Mark Williams.

His hips were shattered, his pelvis was broken and bones in his legs were driven in to his abdomen by the force of the crash. It was 2002 and years of rehabilitation and physiotherapy stretched out ahead of Mr Balnaves, who had left school at 15 to make his fortune in media.

“As you can imagine, I had a lot of time to think throughout this period,” he said in a newspaper interview in 2011.

“And what I came to was this: How many more houses do I need? Do I want the jet plane? Do I want another yacht? Not really. There comes a time when those things stop meaning so much to you.”

Neil Balnaves when he ran Southern Star

His foundation has now given away more than $20 million - but Mr Balnaves isn’t one to flourish his chequebook.

“It’s not easy giving away money,’ he told the Mosman Daily.

“We don’t write cheques but are actively involved in choosing the projects we support and I worry about the money being well spent.”

Neil Balnaves with the then NSW Govenor Marie Bashir.

The latest arts organisation to benefit from Mr Balnaves’ generosity is the Ensemble Theatre at Kirribilli which has been given $300,000 by The Balnaves Foundation.

Mr Balnaves describes the theatre as “Sydney’s best kept secret”.

Neil Balnaves and his wife Diane are regular patrons of the Ensemble Theatre.

The money will be spent to make it less of a secret and broaden the theatre’s profile through marketing and public relations.

Mr Balnaves and his wife Diane are regular patrons of the theatre.

“We went to theatre when we were first married and have rediscovered it in recent years,’’ he said..

“I love the intimacy of the Ensemble — it’s almost like the play is happening in your own home.

“I particularly admire the quality of the plays and the theatre’s ability to function without government handouts. In this day and age it very rare thing.”

Ensemble artistic director Mark Kilmury says the Ensemble was thrilled with the gift which was a huge boost to the theatre.

Neil Balnaves (centre) is a life member of the Belvoir Theatre along with (L-R) Neil Armfield, Rachel Healy, Geoffrey Rush, Louise Herron, Andrew Cameron and Sue Hill.

Mr Balnaves said the arts in Australia helped to “stretch our imagination, stimulate our creativity, nourish our souls and helps up process, change and make sense of the world around us”

The Balnaves Foundation, now run by son Hamish Balnaves, has provided a huge range of monetary support to medical research, the arts and theatre, particularly indigenous projects.

In 2011, Mr Balnaves donated 16 valuable paintings from his own personal collection to the Mosman Art Gallery as a gift to the people of Mosman where he has lived for 50 years.