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George Lucas to donate $4bn to education

2012-11-05 12:40
 
George Lucas Star Wars
Los Angeles – Star Wars mastermind George Lucas, who last week sold his company LucasFilm and the Star Wars franchise to Disney for a whopping $4.05bn, will donate the bulk of his windfall to funding education, according to The Hollywood Reporter.

"George Lucas has expressed his intention, in the event the deal closes, to donate the majority of the proceeds to his philanthropic endeavours," a spokesperson for Lucas said.

On Tuesday, the Walt Disney Company announced it had paid $4.05bn to acquire Lucasfilm, which produced Star Wars, has little to no debt, and is 100% owned by George Lucas himself.

Disney also announced plans to release a seventh Star Wars film, Star Wars: Episode VII, in 2015.

Lucas' deal with Disney is set to be finalised by the end of the year.

Lucas has yet to disclose which charity will be the beneficiary of the huge chunk of money. But Lucas currently serves as the chairman of Edutopia, a foundation that empowers innovative coursework in schools.

Lucas has made other generous donations to show his commitment to education in the past.

In a Giving Pledge letter from 2010, he wrote: "I am dedicating the majority of my wealth to improving education. It is the key to the survival of the human race. We have to plan for our collective future – and the first step begins with the social, emotional, and intellectual tools we provide to our children. As humans, our greatest tool for survival is our ability to think and to adapt – as educators, storytellers, and communicators our responsibility is to continue to do so."
 
Disney Chief Executive Bob Iger announced that Star Wars: Episode VII will be followed by Episodes VIII and IX. Disney's long-term plan is to release a new movie in the series every two to three years thereafter, he added.

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