News + Media

Graham Tuckwell urges Australia’s rich to give back

July 14th, 2015

Tuckwell, who lives in Jersey and has an estimated wealth of $450 million, is visiting Australia as part of the final 2016 student selection for those seeking to win the 25 scholarships offered each year by the Graham and Louise Tuckwell Foundation.

'I am hoping that people in Australia who have made money will view themselves as having an obligation to give back.

"They have only been able to make it in Australia because of the opportunities that they have been given. Instead of sitting on all these millions, I would like to see some of the people at the top of the tree doing huge programs in areas where it is not easy for governments to step in."

He says these rich Australians should become philanthropic entrepreneurs.

"As Carnegie said, 'he who dies rich dies disgraced'."

Tuckwell says it was "terrific" to see Fortescue Metals Group chairman Andrew Forrest make a $65 million donation to West Australian universities.

Other prominent recent examples of philanthropy by Australian businessmen were Worley Parsons founder John Grill's $20 million gift to the University of Sydney, the Packer family's $200 million philanthropic fund, a $50 million donation to charity by Alex Waislitz and a $3 billion donation to charity by the late founder of Ramsay Healthcare Paul Ramsay.

Read the full article - Financial Review

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