In a historic and generous act, Perth businessman Ted Powell has donated $100 million to Murdoch University’s veterinary medicine school, marking the largest gift ever received by a university in Western Australia. The donation will fund the rebuilding of the veterinary school and increase student enrollment by nearly 50 percent.
Mr. Powell, who earned his wealth through a Hong Kong-based company specializing in offshore shelf corporations in low-tax jurisdictions, revealed that his motivation was partly inspired by his late wife’s passion for cats. The couple, who did not have children, wanted to leave a legacy by supporting worthy causes.
“My wife was a great cat lover and would be immensely proud of what I’m doing with this project,” he said. He also expressed a desire to ensure his assets are used wisely, stating, “I don’t want anyone else to have the burden of deciding what to do with my money if I’m gone.”
At 74, Mr. Powell joked that “having too much money is a problem,” adding, “You can’t spend $100 million when you’re alive.” The passing of his wife was the catalyst for his decision to make this significant contribution.
His long-standing relationship with Murdoch University is rooted in his support through the Ragdoll Foundation, which provides scholarships to students in need. He emphasized that Murdoch has always been “first in line” when it comes to donations, underscoring his commitment to improving veterinary education and animal welfare.
“I can’t change the world, but I can do one thing well—I’ve done it, and Murdoch is my top priority,” he said, highlighting his dedication to making a difference.
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