George Lucas plans to give most of the $4.05 billion earned from the sale of Lucasfilm to Disney into a foundation that will focus on educational issues.
Lucas said, "For 41 years, the majority of my time and money has been put into the company," he said. "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."
“I am dedicating the majority of my wealth to improving education. It is the key to the survival of the human race," Lucas said in a statement. "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.”
Lucas is currently the chairman of Edutopia, which is part of the George Lucas Educational Foundation. It’s very likely that his educational foundation will receive the bulk of the donation while other portions, if any, are spread out to various charities. It is also possible that Lucas could start up a new educational foundation to further his philanthropic cause. It should be noted that in 2010, Lucas made a commitment to using his wealth to improving education. Today is the day that the filmmaker stays true to his word.