Billionaire returns to philanthropy with $100m pledge

Billionaire returns to philanthropy with $100m pledge


Henry T. Nicholas III, founder of Broadcom Corp. is to refocus on philanthropy after years of personal crises.

He has announced that he will give $100m ( £48m) over the next five years to support education and other charitable interests.

Nicholas said that details of his financial commitments would be announced in a few weeks, but that those benefiting from his largess would include youth sports, medical research and troops in the Middle East.

In December, he formed a philanthropic foundation that has started giving money to a variety of causes, such as a youth basketball league and Habitat for Humanity to house Iraq war veterans.