Which Australians are donating millions for good?
AUSTRALIA’S biggest philanthropists include some mega names of business, many of whom shun the limelight. So who are they?
THEY’RE some of Australia’s most generous givers, but you wouldn’t recognise many of them in the street.
Australia’s biggest philanthropists include some big names of business but also several private types who shun the limelight.
They are collectively donating hundreds of millions of dollars each year to causes such as hospitals, medical research, education and the arts — so who are they?
Andrew “Twiggy” Forrest and James Packer are among the well-known names, but others such as Greg Poche and Alex Waislitz also have been handing over millions.
Philanthropy Australia CEO Sarah Davies said there had been a big rise in big gifts in recent years and more philanthropists were willing to talk openly about their giving.
“By talking about their giving, philanthropists are creating culture change because they encourage their colleagues to think about their own wealth and how they could use it for the common good,” she said.
Ms Davies said a large research project, Giving Australia 2015, had been commissioned by the Federal Government to give greater insights about why people give and how much they give. It is expected to be completed later this year.
Other financial experts also have noticed a change in the way philanthropists operate.
“There is a definite trend of the very wealthy giving more in a more structured way,” said Fausto Pastro, a director at accounting and advice group William Buck.
He said cash windfalls from business sales, tax strategies, and advisers suggesting philanthropy were among the reasons why many were giving more, often through foundations or other specific trusts.
However, research suggests Australians overall give significantly less than US citizens and slightly less than Britain and Canada when it comes to donations. Mr Pastro said everyone could play a small part.
“None of us have the financial clout to change the world — well, maybe Bill Gates does — but we can sure make a difference to another person,” he said.
“Don’t underestimate the power of providing your time. Giving time is just as valuable as giving money.”
Here are some of the biggest philanthropists having a major impact in Australia today.
ANDREW FORREST
The mining magnate and founder of Fortescue Metals Group stepped down as CEO in 2011 so he and wife Nicola could spend more time on philanthropy. Much of his work has focused on ending Aboriginal disadvantage and improving education, and his private foundation has donated more than $250 million in the past 15 years.
JAMES PACKER
The billionaire casino owner co-launched the $200 million National Philanthropic Fund in 2014 with the Packer Family Foundation. His company’s Crown Resorts Foundation gives financial support to the arts, community welfare, education, health care, research and the environment. His father, the late media baron Kerry Packer, was also a generous philanthropist who was known to be more impulsive in his giving.
GRETEL PACKER
James Packer’s older sister Gretel, known to be a very private person, chairs the Packer Family Foundation and was reportedly the driving force behind the National Philanthropic Fund. Its key focus areas are the arts and indigenous education. “Philanthropy has always been a part of our life — sometimes private, sometimes public, but always there,” she said at the launch.
PAUL RAMSAY
Mr Ramsay, the founder of global private hospital company Ramsay Health Care, died in 2014 in his home town of Bowral and remains on our list for the sheer size of his donation — leaving more than $3 billion to charity in the largest bequest in Australian history. The Paul Ramsay Foundation’s three main program areas are health, education and disadvantage.
GREG POCHE
The founder of Star Track Express took the title of last year’s biggest donor with wife Kay Van Norton Poche. They gave $50 million to the Poche indigenous Health Network, which aims to “help close the gap in life expectancy and achieve health equality for Aboriginal and Torres Strait Islander peoples”. He also has donated more than $100 million to fund melanoma research.
SUSAN ALBERTI
The Western Bulldogs Football Club vice-president is one of the nation’s greatest medical research philanthropists. Her lifelong mission to raise funds for the prevention, treatment and cure of Type 1 diabetes stemmed from her only child Danielle’s death from complications arising from the chronic disease. The Susan Alberti Medical Research Foundation has raised millions of dollars.
JOHN KINGHORN
The founder of RAMS Home Loans pumped $295 million into his Kinghorn Foundation in 2005, at the time the biggest charitable donation in Australia. The foundation supports anti-poverty projects, youth programs and medical research. The Kinghorn Cancer Centre in Sydney opened in 2012 after a $25 million donation.
ALEX WAISLITZ
The billionaire Melbourne investor, 58, is donating $50 million to charity over 10 years. He has reportedly said it was sad that many people waited until very late in life before giving away part of their fortune, and that his foundation would motivate him to continue to maintain good investment returns.
THE LIST GOES ON ...
Many philanthropists are still coy about their giving. Transport magnate Lindsay Fox once said he did not talk about it. Other large philanthropists include Lonely Planet travel guide founders Tony and Maureen Wheeler, the Smorgon Family, Westfield’s Lowy family, property developer John Gandel, Tasmania’s MONA art museum founder David Walsh, the Pratt Foundation and the Myer family.
LAST YEAR’S BIG DONATIONS
1. Greg Poche and Kay Van Norton Poche — $50 million to Poche Indigenous Health Network
2. Barry and Joy Lambert — $33.7 million to The University of Sydney
3. BHP Billiton — $22 million to Australian Mathematical Sciences Institute
4. Dr Chau Chak Wing — $15 million to The University of Sydney
5. Isaac and Susan Wakil Foundation — $10.8 million to University of Sydney Nursing School
6. Judith Neilson — $10 million to University of NSW
7. Ian Potter Foundation -$10 million to State Library of Victoria
8. BHP Billiton — $10 million to Anzac Centenary Public Fund
9. Ian Potter Foundation — $7.8 million to Questacon, the national science and technology centre
10. Bowel Cancer Australia — $5.9 million to The University of Sydney
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