Following in the philanthropic footsteps of entertainment moguls like Barry Diller and Rupert Murdoch, a trio of Hollywood heavyweights â€" David Geffen, Jeffrey Katzenberg and Steven Spielberg â€" pledged on Tuesday that they would each donate $30 million to the non-profit Motion Picture & Television Fund.
The organization, which provides health services and other support to entertainment industry workers and retirees, has faced severe financial challenges in recent years and is in the midst of a $350 million endowment campaign. In 2009 the fund abruptly said rising costs would force the closure of its acute-care facility, prompting outrage from patient families.
The Diller-von Furstenberg Family Foundation contributed $30 million in June; last month Steve Bing also chipped in $30 million. Anne and Kirk Douglas and Mr. Murdoch have already given $20 million donations.
With $90 million in new contributions, it would appear that the fund is now awash i n money. But that is not exactly the case: The Motion Picture & Television fund, established in 1921, said the promised money from Mr. Geffen, 69, Mr. Katzenberg, 61, and Mr. Spielberg, 65, would start flowing upon their deaths.
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