George Lucas plans to put most of the $4.05 billion earned from the sale of Lucasfilm to Disney into a foundation that will focus on educational issues.
“George Lucas has expressed his intention, in the event the deal closes, to donate the majority of the proceeds to his philanthropic endeavors,” a spokesperson told HollywoodReporter.com.
The spokesperson went on to say that the "announcement continues a commitment that Lucas made in 2010 to The Giving Pledge where he stated, “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 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.’”
“For 41 years, the majority of my time and money has been put into the company,” Lucas said in a statement following the announcement of Lucasfilm’s sale. “As I start a new chapter in my life, it is gratifying that I have the opportunity to devote more time and resources to philanthropy.”