Philanthropist Rejects L.A. in Favor of Denver
July 25, 2006 | Read Time: 1 minute
The Denver businessman Philip Anschutz has donated nearly $110-million from 1998 to 2004 through his foundation, with about 80 percent of the money going to charities in Colorado, reports the Los Angeles Times. He has spent about $23-million over the last decade on two charities designed to promote positive values, the Random Acts of Kindness Foundation and Foundation for a Better Life.
But while Mr. Anschutz, who has an estimated worth of $7.2-billion, owns many companies and properties in Los Angeles, he has rejected requests to support hospitals, museums, and other institutions in the city. Tax records show the Anschutz Foundation gave only $1.9-million, or 2 percent, of total grants to charities in Los Angeles.
While some people have criticized Mr. Anschutz for not providing bigger sums to the city, Tim Leiweke, chief executive of the Anschutz Entertainment Group, says such comments are unfair. “He is very uninvolved in L.A.,” Mr. Leiweke said of Mr. Anschutz. “He is a substantial giver in Denver, as he should be.”