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Turner gives US$ 1 Billion to the UN (September 19, 1997) News Bulletin (September 19, 1997)
Ted Turner Announces US$ 1 Billion Gift to the U.N.
CNN founder Ted Turner announced at the annual United Nations Association dinner in Manhattan that he is making a donation of US$ 1 billion to benefit United Nations agencies, the largest charitable donation ever. The money would be used to set up a not-for-profit foundation to support United Nations programs aiding refugees and children, clearing mines and fighting diseases.In his speech, Mr. Turner, who is one of the prominent signers of Global Policy Forum's Call for Action on the UN Financial Crisis, urged the US Government to pay its $1.5 billion arrears to the United Nations. Last November, he had considered buying up the US debt to the UN and collecting it himself, but the existing rules would not allow such a procedure (for further information, see Latest News - 22 November 1996).
Mr. Turner, whose net worth has grown from $2.2 billion on Jan. 1 to $3.2 billion today, said that he would give $100 million a year for the next 10 years to programs approved by the United Nations. The money will be donated to a new foundation that will work with the United Nations committees. According to Secretary General Kofi Annan, it is still unclear how the funds will be spent.
In a CNN interview, Mr. Turner said that he had always been drawn to the United Nations and liked the idea ‘one for all, all for one’. He also called on other wealthy people to donate more money to charity and said that he plans to raise more money for his new foundation to support the UN. (MR)
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