- BRW Lists
Published 02 May 2014 16:47, Updated 05 May 2014 12:32
The late Paul Ramsay left most of his estate to the Paul Ramsay Foundation, including his 36.2 per cent stake in Ramsay Health Care. Photo: Jim Rice
In death, BRW Rich Lister Paul Ramsay has become Australia’s biggest philanthropist, leaving more than $3 billion to charity in his will.
The founder of Ramsay Health Care died overnight, aged 78, following a short period of ill health. He is survived by his twin sister Anne and brother Peter.
Ramsay was 11th on the BRW Rich 200 list in 2013, with an estimated fortune of $2.7 billion at that time.
His wealth has grown over the past year and Forbes recently estimated it at $3.7 billion.
Ramsay had no partner or children and his will leaves most of his estate to the already established Paul Ramsay Foundation. This includes his 36.2 per cent ownership of Ramsay Health, a $3.3 billion stake that generates tens of millions of dollars in dividends each year.
Ramsay Health confirmed this in a statement to the Australian Securities Exchange on Friday.
The foundation supports charities such as CatholicCare’s Parent Infant Family Australia and the Prostate Cancer Foundation of Australia, according to The Australian Financial Review.
The foundation is administered and controlled by Ramsay Health deputy chairman Michael Siddle, as well as Peter Evans and Tony Clark.