Shah Gives All His Assets To Charity

Press, Volume C, Issue 29638, 7 October 1961, Page 13

Shah Gives All His Assets To Charity

(N2M4i.*Reutsf—CepgrtoM> TEHERAN, October ®. The Shah of Persia yesterday gave away to charity all his personal property estimated to be worth £47,500,000.

The gift will be used to provide free medical services, for the upkeep of orphanages, the expansion of schools. universities and theological colleges, and for the administration of mosques. It includes oil tankers, hotels, plants, farms, villages and shares. Under the terms of the gift, the property can never be taken back by the Crown. Yesterday’s gesture brings the Shah's gifts during his 20-year reign to £70,500.000, according to the “Daily Sketch.”

The gift was made to the Pahlevi Foundation, which will appoint a 10-man board to administer it. The board will include the Prime Minister, leaders of both Houses of Parliament, and high officials of the Ministry of Justice.

The administrator of the Pahlevi Foundation (Mr Assadollah Alam) last night described the gift m “the most momentous, revolutionary and historical move ever token by any monarch In any country.”

The Shah has always given all he could to his people, according to the “Daily Sketch." By 1960 he had given £25)000,000 to public works. In 1952 he insisted on selling to poor peasants ell remaining Crown lands. In 1053 he turned over administration of the Royal estates to the Government, to yield £500.000 a year for relief and charity.