Millions Donated by Gareth Morgan, Benevolent Kiwi

A New Zealand investment banker has donated $47 mil to charity.

Gareth Morgan’s wealth comes from the sale of shares in his son’s company, Trade Me, the number one secondhand sales and classifieds site in New Zealand. The company was started by his son Sam on a borrowed laptop as a university dropout in the late 90′s and was recently sold to Fairfax for $700 mil. The gift has turned the land down-under, upside-down. New Zealand’s GDP is less than $100 billion with $24,000 per capita. $47m buys you a lot of of golden kiwis.

It’s like winning Lotto 50 times, it’s so out of proportion. We’re just ordinary people,” said Gareth. Mr. Morgan and his wife depart today for the a motorcycle trip across North America, starting in the Bahamas.

Even if you’re not a famous multi-millionaire, be sure to give a little this tax season. Hey, you’ll get it right back.

Trade Me Dad Giving Away $47m [Stuff] (Thanks to Michael!)

Comments

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  1. KevinQ says:

    The company was started by his son Morgan. . .

    It was started by Gareth Morgan’s son. . . Morgan Morgan?

    K

  2. Paul D says:

    Boutros Boutros Golly!

  3. Nate says:

    Because everyone knows you can ride a motorcycle from the Bahamas, all the way to California.