A spokesperson for Lucasfilm told the Reporter that Lucas, who owns 100 percent of the company, plans to transfer much of the $4 billion he receives from its sale to the Walt Disney Company to a private philanthropy that will focus on education issues in the United States. Lucas, a signatory to the Giving Pledge created by Bill and Melinda Gates and Warren Buffett, currently serves as chairman of Edutopia, a project of the George Lucas Educational Foundation. It has not been announced whether the Star Wars director plans to transfer money from the sale into the foundation or a new entity.
Over the years, Lucas has made a number of high-profile charitable gifts, including a $175 million gift to his alma mater, the University of Southern California, in 2006.
"For forty-one years, the majority of my time and money has been put into [Lucasfilm]," said Lucas in a statement released on Wednesday. "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."