‘Can't spend it': Millionaire gives uni $100m
The gift is the largest donation ever received by a West Australian university and one of the largest received by any Australian uni.
'You can't spend $100m when you're 74 years old. It's just not possible,' Mr Powell, who made his fortune founding Offshore Incorporations Limited, said on Thursday.
'I've given almost as much as I can, but you know, I'm not going to go hungry.
'I know my late wife, Dee, an animal lover and a most generous person, would also be immensely proud of this project.' Perth businessman Ted Powell donates $100m to Murdoch University's veterinary school. Credit: Supplied
Mr and Mrs Powell, who did not have children, established The Ragdoll Foundation, which has provided financial support to more than 140 Murdoch students who completed their degrees through a scholarship program.
The $100m donation will be used to redevelop Murdoch's veterinary school with a 9600 sqm facility that will be large enough to increase the number of vet students who can be trained in WA by 50 per cent.
Mr Powell said there were many good causes in the medical and educational fields and encouraged anyone who was financially well-off to consider giving to worthy causes.
'I am absolutely delighted that this gift will support the redevelopment of the Veterinary School,' he said. Murdoch University's veterinary school will undergo a redevelopment thanks to an unprecedented $100m gift from Perth businessman Ted Powell. Credit: Supplied
Vice Chancellor Andrew Deeks said Mr Powell's extraordinary act of generosity would help ensure WA continued its role as a leading hub for animal research, teaching and training.
'Veterinary Medicine was one of 10 foundation courses offered by Murdoch when we opened 50 years ago and a commitment to the environment and conservation are part of the University's DNA,' the vice chancellor said.
'The discipline has advanced significantly over that time, as have the safety requirements for biological laboratories and animal facilities.'
The new facility will allow the university to build on its conservation, animal care and welfare programs, as well as provide more cutting edge research. Murdoch University'Vice chancellor Andrew Deeks said the donation would help ensure WA continued its role as a leading hub for animal research, teaching and training. Credit: Supplied
It will also provide better service for the agricultural and scientific community and broader WA community.
Professor Deeks said the development would strengthen research in animal health and the University's One Health agenda which recognised the links between human, animal and environmental health.
'On behalf of Murdoch University, I cannot thank Ted Powell enough for his generosity, support and foresight,' he said.
'He will leave a legacy for the Western Australian veterinary profession, animal research – and for animals great and small – which will resonate for generations to come.'
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