Hillman's $800 million fortune will largely benefit Pittsburgh
When Henry L. Hillman began his estate planning 50 years ago, his goals were to provide first for his family, and then for his foundations.
The billionaire Pittsburgh financier who died last month at age 98 appears to have achieved that with his will, which is set to distribute an estimated $800 million fortune among 14 philanthropies maintained by the Hillman family — with the vast majority of the money targeted for the fund that supports initiatives in southwestern Pennsylvania.
With the $800 million gift from his estate, the combined assets of the family foundations will jump from $435 million to $1.2 billion, pushing Hillman into the ranks of Pittsburgh’s biggest philanthropies.
An estimated $700 million of the total will go to the Henry L. Hillman Foundation, which will expand its annual grantmaking in the Pittsburgh region from about $7 million to about $40 million, said David Roger, president of the Hillman Family Foundations.
Read more: http://www.post-gazette.com/local/city/2017/05/11/henry-hillman-foundation-elsie-hillman-cancer-center-pittsburgh/stories/201705110085
