Earlier this week, childhoods everywhere were ruined when Disney announced it had purchased Lucasfilm from George Lucas for $4.05 billion. Since George Lucas owns the entire company, which has no debt, the entire amount of the sale goes straight into his pocket. And now, he's announced that he'll be donating it to a foundation that focuses on educational issues.
A spokesperson for Lucasfilm told The Hollywood Reporter, "George Lucas has expressed his intention, in the event the deal closes, to donate the majority of the proceeds to his philanthropic endeavors."
Lucas is currently the chairman of Edutopia, which is part of the George Lucas Eduational Foundation, and though it's not said whether he will put the money there or elsewhere, it's likely he'll not be donating it to a third party charity.
Using funds from that foundation, Lucas donated $175 million to USC in 2006, and has also donated to the Film Foundation, Stand Up to Cancer, and the Make-A-Wish Foundation.
Lucas said in a statement, "For 41 years, the majority of my time and money has been put into the company. 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."
The donation announcement continues, according to the spokesperson, a "commitment that Lucas made in 2010 to The Giving Pledge," wherein he stated, "I am dedicating the majority of my wealth to improving education. It is the key to the survival of the human race."