A Perth philanthropist has donated $100 million to Western Australia's only vet school. It's the biggest donation ever received by a university in the state and will fund a major rebuild and increase the number students in the course.
00:00Not many would know the name of businessman Ted Powell, but his generosity speaks for itself.
00:09You can't spend $100 million when you're 74 years old.
00:13The catalyst for his decision, the passing of his late wife.
00:17And once I had given the money over, and they do have the money, I was relaxed.
00:24It was like a weight off my mind.
00:26Ted Powell made his money running a Hong Kong based firm that specialised in the creation and sale of offshore shelf corporations in low tax jurisdictions.
00:36Mr Powell explained he and his wife didn't have children and had decided to contribute their assets to worthy causes.
00:43I'd like to take this opportunity to encourage anyone who has been able to accumulate wealth to consider responsible ways to give back.
00:51And I hope that my gift to Murdoch will inspire others. A good education is a gift to last a lifetime.
00:58The University stunned by his generosity.
01:01Well, I had to take my jaw off the floor and bring it back up.
01:05The donations set to have a huge impact.
01:08The biggest gift that we've ever had to the University, but one which is going to facilitate a transformation of this environmental and life science precinct.
01:18The funding will enable the University to rebuild its veterinary school and increase the number of vet students by almost 50 per cent,
01:26with hopes the project will be complete within five years.
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