Launched in February with a goal of $350 million, the campaign aims to meet the needs of entertainment industry workers and current and future retirees through charitable programs and services ranging from financial assistance for rent, mortgage, and food to counseling and healthcare support for the un- and underinsured. Bing's pledge comes after the announcements of a $30 million gift from LAC/InterActve Corp. chair Barry Diller, a $20 million gift from News Corporation, and a $20 million gift from Kirk Douglas and his wife, Anne.
"For years Steve Bing has been one of the most philanthropic and generous people in our industry," said Jeffrey Katzenberg, MPTF board member and chairman of the MPTF Foundation. "He has also been one of the most loyal supporters of the MPTF through both the good and challenging times. Now with this amazing contribution he puts us another step closer to securing our long-term goals. It's not possible for us to thank him enough, and I hope others in his generation will follow his lead both with their involvement and their financial support."