Turner pledges more money for UN

Published December 13, 2002

UNITED NATIONS, Dec 12: “I went from no money to a pile of money as big as the World Trade Center, and then just like the World Trade Center, it was gone overnight,” said Media mogul and founder of CNN Ted Turner on Wednesday.

Turner had pledged one billion dollars to the United Nations and was being honoured here on at a luncheon. He said he hoped to replenish his wealth so he can continue giving money to help the global organization that he has loved since he was a boy.

Half of the one billion dollars Turner pledged in 1997 has already been given. The rest was supposed to be paid out over the next five years, but the board overseeing the donation decided this summer to spread that last $500 million over another decade.

Applauding businessman, philanthropist’s huge donation to the world body, UN Secretary General Kofi Annan said that Turner’s donations and contributions have enabled the world body to do things “we could never imagine.”

The Turner “foundation has helped us strengthen the UN institutionally — at the Headquarters and in the field,” Annan said.

Turner on his part assured: “Hopefully, I’m going to make another fortune. I’ve started a restaurant chain. It’s hard to make money in the restaurant business,” he said, with a big laugh. “But I’m going to try to make another fortune to replace the one I lost so I can give more later. But at least we’re pretty well set for the next 10 years if things don’t get worse.”

Turner’s personal worth, mostly wrapped up in AOL-Time Warner stock, has dwindled from around eight billion dollars to about 1.6 billion dollars.

Turner said that the billion dollar he gave the United Nations represented about a third of his fortune at the time, which he called “a lot for someone in his 50s”, noting that most people usually give away large sums of money in their 70s “before the priest comes to say good-bye”.

Opinion

Accessing the RSF

Accessing the RSF

RSF can help catalyse private sector inves­tment encouraging investment flows, build upon institutional partnerships with MDBs, other financial institutions.

Editorial

Madressah oversight
Updated 19 Dec, 2024

Madressah oversight

Bill should be reconsidered and Directorate General of Religious Education, formed to oversee seminaries, should not be rolled back.
Kurram’s misery
19 Dec, 2024

Kurram’s misery

THE unfolding humanitarian crisis in Kurram district, particularly in Parachinar city, has reached alarming...
Hiking gas rates
19 Dec, 2024

Hiking gas rates

IMPLEMENTATION of a new Ogra recommendation to increase the gas prices by an average 8.7pc or Rs142.45 per mmBtu in...
Geopolitical games
Updated 18 Dec, 2024

Geopolitical games

While Assad may be gone — and not many are mourning the end of his brutal rule — Syria’s future does not look promising.
Polio’s toll
18 Dec, 2024

Polio’s toll

MONDAY’s attacks on polio workers in Karak and Bannu that martyred Constable Irfanullah and wounded two ...
Development expenditure
18 Dec, 2024

Development expenditure

PAKISTAN’S infrastructure development woes are wide and deep. The country must annually spend at least 10pc of its...