November 17, 2003
By Reuters
London - South African retail property tycoon Donald Gordon will give £20 million to Britain's Royal Opera House and the new Wales Millennium Centre for the performing arts.
Gordon said the arts had played an important part in his life since he became resident in Britain four years ago and added it was a "tax efficient" way of giving money.
"This donation is made ahead of my retirement ... and heralds the beginning of a fascinating new activity that will become an important and enjoyable focus of my life in retirement," he said.
The private donation is thought to be one of the biggest to the arts in Britain since John Paul Getty gave £50 million to the National Gallery in 1985.
Gordon, a dual British and South African national, ranked 51st in the recent Sunday Times Rich List with a fortune of more than £560 million.
He was impressed by the continuing success of the Opera House and had been struck by the "ambition, boldness and creativity" of the Millennium Centre, which opens in Cardiff in November next year.
Royal Opera House chief executive Tony Hall said the funds would go towards staging new productions.
Publisher: Business Report
Source: Business Report
