George Lucas Will Donate Disney $4 Billion To Education

http://www.hollywoodreporter.com/news/disney-deal-george-lucas-will-384947

 

By the end of the year, the $4.05 billion sale of Lucasfilm to Disney should be finalized. And since George Lucas owns 100 percent of his company -- which has little to no debt -- all that money goes to him.

 

After that, Lucas plans to quickly put the bulk of the money into a foundation that will primarily focus on educational issues, a spokesperson for Lucasfilm tells THR.

 

?George Lucas has expressed his intention, in the event the deal closes, to donate the majority of the proceeds to his philanthropic endeavors.?

 

It's not yet clear which foundation will get the proceeds. Lucas is currently the chairman of Edutopia, which is part of the George Lucas Educational Foundation. He could put money into that or create a new foundation that would be funded from the sale.

 

The Foundation was the vehicle Lucas used to make a $175 million donation to his alma mater USC in 2006. He has also given to many other causes over the years including the Film Foundation, Stand Up to Cancer and the Make-A-Wish Foundation.

 

Now that is fuckin' awesome!

I read this earlier. Fucking amazing. Glad it's going to a great cause too.

Wow, nice move by GL. I'm sure he had more than enough money from other things. Only thing is that I believe it'll be around half of what Lucas got that would go to education. I'm not sure if he'd be willing to give up the shares he was given that make him one fo the largest share holders with Disney.