June 28, 2007
Utah Businessman Plans to Give at Least $1-Billion to Charity
By Anne Howard
Jon M. Huntsman Sr., a Utah businessman, and his wife, Karen, this week put $600-million into the Huntsman Cancer Foundation, and plan to eventually give away at least $1-billion, a spokeswoman said on Thursday.
The move came as a Dutch company agreed to buy the Huntsman Corporation, a chemical company that Mr. Huntsman founded, for $9.6-billion.
Most of the foundation’s money goes to support the Huntsman Cancer Institute at the University of Utah Health Sciences Center.
Mr. Huntsman, 70, who survived both prostate and mouth cancer and whose parents both died of the disease, has previously given a total of $225-million to the institute, which takes a genetics-based approach to cancer research.
In addition to the $600-million worth of Huntsman stock the couple donated to their cancer foundation, the Huntsmans plan to donate another $800- to $900-million in stock, as well as several hundred million dollars more in real-estate holdings, said Mr. Huntsman’s assistant, Jannie Spader, also the communications coordinator for the company’s Salt Lake City office.
Undoubtedly some of that will flow into the cancer institute, but Ms. Spader said that the couple will also support scholarships, education, and fighting homelessness.
The Huntsmans say they have donated a total of about $500-million in their lifetimes before making the commitment they announced this week.
Besides supporting the cancer foundation, they have donated $20-million for relief and rebuilding efforts after a 1988 earthquake in Armenia, and gave $1-million to build a domestic-violence shelter at the Salt Lake City YWCA.
Mr. Huntsman ranked No. 242 last year on Forbes magazine’s list of the 400 richest Americans, which estimated he was worth $1.5-billion last year.
Mr. Huntsman founded the his Salt Lake City corporation, which makes chemicals for adhesives, aerospace, electronics, paints, and other products, in 1982.
On Tuesday, Basell, a chemical maker based in the Netherlands but owned by an American company, agreed to buy all of Huntsman Corporation’s common stock at $25.25 per share, and complete the deal in the fourth quarter of this year.
The Huntsmans’ son Peter will continue to serve as chief executive of Huntsman Corporation. Another son, Jon Huntsman Jr., is governor of Utah.
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Thats a big challenge for such a person to lend hand to those who are suffering.Say,Bravo and the hand that gives receives more.I am pleased and congraturate them for their good work.Please I send greetings to mr. Huntsman and his family at large and may God bless him.Thank you very much,I am looking forward hearing from you.
Yours sincerely
Aminadhabu Arati
Nairobi,Kenya.
— Aminadhabu Jun 30, 06:50 AM #
Congratulations to Mr. Huntsman and his family for a wonderful decision to remember that there are millions of people out there who are in dear need of their help.
As a member of Global Community Enhancement, Inc, of New York, a Not-For-Profit Organization with 501©3 IRS Tax exempt status, carrying out charitable services in Education and Health sectors, we look forward to receiving a helping hand from Mr. Huntsman in the near future.
Once more, congratulations!!!
Sincerely,
Michael T. Stanislous,
President,
Global Community Enhancement, Inc.
P. O. Box 660355,
Bronx, NY 10466
USA
718 654 2220
dvasvm@aol.com
— Michael T. Stanislous Jul 3, 11:43 PM #
Unlike the other contributors I am not seeking money whether it be for a charity or not. I seek only to congratulate you on following through with your well known commitment to your cause. Many people may find that the acquisition of lots on money would change them but not so in this case. I applaud your conviction to finding a cure for cancer and hope your input of resources provides the impetus needed to defeat this dreadful disease.
— Derek Abram Jul 4, 03:45 AM #
I am too impressed to see how people voluntary give helping hands.He is God sent.and our Lord Almighty will surely reward him.Morwe grease to your elbow.Thanks a lot.
Yours Sincerely
Ale Udeh Okongwu.
— Alex Udeh Okongwu Jul 4, 11:17 AM #