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#305244 - 10/18/08 11:11 PM Ashcroft's billions
Peter Jones Offline
How do you set up a registered charity in Belize?

Lord Ashcroft plans to leave £900m to charity

Lord Ashcroft, the billionaire who has helped to bankroll the Tory party and is now its deputy chairman, is to leave most of his money – about £900m – to charity.

It could be the biggest charitable bequest made in Britain and will be shared between causes ranging from arresting criminals to assisting wounded servicemen and saving whales.

Ashcroft’s three children will get only about 20% of his fortune, but he claims they will have the consolation of enjoying giving away his money.

Ashcroft, 62, has already pumped £20m into Crimestoppers, the charity he started 20 years ago, and has spread a similar sum around various schools and colleges. He made his money from the ADT cleaning and security business before selling his stake for £500m.

Now he is to follow in the footsteps of other self-made entrepreneurs such as the late Anita Roddick who have said they do not believe in leaving fortunes to their children.

Ashcroft said yesterday that he has made plans how to spread his wealth. “It will give my family and my kids something very enjoyable to do during their lives,” he said.

“They’ve known my views for a long time. It’s not as if I’ve come from wealth and therefore when you have what is regarded by others as a large amount, sometimes it sits uneasily. I don’t think anybody should just be handed something on a platter.”

http://www.timesonline.co.uk/tol/news/politics/article4969301.ece

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#305256 - 10/19/08 12:43 AM Re: Ashcroft's billions [Re: Peter Jones]
Amanda Syme Offline
Aha, some redeeming social values.

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