UK tycoon Richard Cousins, killed with sons in Sydney seaplane crash, leaves US$52 million to Oxfam under will’s ‘common tragedy’ clause
The huge bequest, representing almost the entire fortune of Cousins, comes as Oxfam faces a cash crisis
A British tycoon who was killed with his family in a seaplane crash in Australia on New Year’s Eve has left £41 million (US$52 million), almost his entire fortune, to the crisis-hit charity Oxfam, a newspaper reported on Tuesday.
The bequest comes at a time when Oxfam is trying to find £16 million in savings as it grapples with the fallout from a sex abuse scandal.
“We are extremely grateful for this bequest,” Oxfam said in a statement.
Richard Cousins, 58, CEO of catering giant Compass Group Plc, died with sons William, 25, Edward, 23, fiancée Emma Bowden, 48, and her daughter Heather, 11, when their plane nosedived into the Hawkesbury River north of Sydney.
The Sun newspaper reported that some time before the crash Cousins drew up a will with a “common tragedy clause”, leaving his money to Oxfam in the unlikely event that he and his sons were killed together.
Oxfam said it was working with Cousins’ family and its board of trustees to identify how the bequest would be used.
The seaplane was part of the Sydney Seaplanes business that has operated since 2005 with no previous record of mishap.
A preliminary investigation found it was off course, but could not determine the cause of the crash, which also killed Australian pilot Gareth Morgan.