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The lighter side of billionaire lost boy Henry T. Nicholas III
November 18th, 2008, 6:30 am · 15 Comments · posted by Teri Sforza, Register staff writer
Photo by Cindy Yamanaka
The moral of the Henry T. Nicholas III story may well be that money can’t buy happiness. (If you haven’t read my colleague John Gittelsohn’s story about the Broadcom billionare’s personal demons - as revealed in a desperate email to his estranged wife, candidly detailing debauchery - do so immediately).
Nicholas has pleaded not guilty to federal charges of drug distribution and securities fraud. And there is another side to the guy. The philanthropist.
In 2007, Nicholas gave $20 million to UC Irvine and pledged $100 million to charity over five years (we will let the moralists in the audience debate whether these were acts of attrition). But the truth is, Nicholas’s philanthropic efforts go back a good bit farther than that.
In fact, Nicholas has a web of endowments, trusts and foundations stretching back a decade. They include The Nicholas Foundation and its new (post-marriage) incarnation, the Henry T. Nicholas III Foundation , with assets of $30 million. Through these, Nichoals has quietly given $8.9 million to local causes between 2000 and 2006, according to federal tax returns.
- One of the biggest beneficiaries: the St. Margaret of Scotland Episcopal Schoo
lin San Juan Capistrano, which will reap $10 million for building improvements and education technology (see detail below). The Nicholas kids go to school there. - Nicholas emerges as a music buff with rather wide-ranging tastes, with thousands going to Pacific Symphony, now-defunct Opera Pacific, and, uh, the International House of Blues Foundation. (What’s on his iPod?!)
There’s also the Nicholas Endowment. And the new Henry T. Nicholas Education Foundation(which opened a tutoring center aimed at mentoring Santa Ana high school students - a $10 million endeavor- in March). No tax returns posted for that one yet, but we’ll keep an eye out for the lighter side of the billionaire lost boy.
Of course, Nicholas has given away many millions more than all this - to the just-passed initiative for crime victims’ rights, to defeat a loosening of the three-strikes-you’re-out law (he lost a sister to violent crime). But politics is not charity - or at least, it’s not tax-deductible - so we’ll steer clear of that here. Click on for more detail about the foundation grants.
- In 2006:
- $2.5 million for St. Margaret of Scotland Episcopal School in San Juan Capistrano, for building improvements and education technology
- In 2005:
- $2.5 million for St. Margaret;
- $300,000 for the Center for Pervasive Commuinications through the UC Irvine Foundation;
- $15,000 to AIJC in Sacramento for public crime protection;
- $10,000 to Southern California Public Radio KPPC;
- $10,000 to UCI’s School of Engineering
- $5,000 for Opera Pacific’s educational programs
- In 2004:
- $2.55 million for St. Margaret
- $1,000 for Pacific Symphony’s arts program
- In 2003:
- $287,491 for UC Irvine Foundation
- $50,750 for St. Margaret’s Episcopal School
- $50,000 for the Pacific Symphony
- $15,000 for CSU Fullerton University Advancement
- $12,500 for South Coast Repertory
- $5,000 for Opera Pacific
- $1,000 for Children’s Hospital Orange County
- $1,000 for Second Harvest Food Bank
- $700 for International House of Blues Foundation
- $500 for Samohi Alumni Association
More Watchdog:
- The billionaire felon’s foundation: Where’s the bad guy? (Samueli)
- Hard times hit OC United Way, just as more people need help
- United Way cuts fundraising, operating costs to deal with downturn
- After priest scandal, Catholic Diocese’s financial rebound is heavenly
- Hoag, CHOC hospital execs earn more than $1 million each
- OC charity for burn victims burns donors
- OC Scouts leader’s pay rose while revenue fell
- God’s quid pro quo?
- Earthly kingdom: Trinity’s $167 million in real estate
- Crusading for ‘Judeo-Christian values’ doesn’t come cheap
- OC Scouts leader’s pay rose while revenue fell
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Dr. Nicholas has been generous to fault. His past acts were trying to build a company and thousands if not tens of thousands of people have directly benefited from his actions in business as well as charity.
great job at pumping the lighter side of nicholas. It doesnt take away from the fact that this guy flew in out of state prostitutes and held drug parties in a liar he illegally built in the hills of nellie gail. You cant buy good morals, and you cant replace bad deeds with good ones. In spite of his past behaviors Nicholas was a major contributor to the YES on 8 campaign… he is a major hypocrite. BOOOOOO
I would never call Nicholas “light.”
and Says,
Did he really contribute Yes to Prop 8?
OK, I knew he was a bad guy but this is the icing on the cake! He has so much money that he has to give away to charities so it’s not like this should change anyone’s opinion of him!
He looks evil. I think it’s the haircut and beard. Vanity Fair had a recent story on him too. Powerfull men have bad sides to them. He’s another who couldn’t control himself. I hope his wife took him for all she could get.
He is kind cute for a billionarie.
Geez prop 8′rs get over it, the people have spoken.
Atleast this guy did a little good with all his money..
He has a good side. His donations to charities and the communities is overwhelming. Unfortunately, because of his wealth, he went into the “dark side” of life. He needs help thru drug counseling and staying away from the “dark side” he could get back on the right track. This is a decision he can only make. He is a very smart man.
Folks - Nicholas did *not* donate to the Yes on 8 campaign. This according to the state database on contributors, and Nicholas officials themselves. I wonder if you’re confusing Prop. 8 and Prop. 9? He *did* back Prop. 9, as we wrote; it’s the crime victims’ rights ballot measure.
Does anyone think it odd for a religious school to take money from a man so completely morally flawed?
Aren’t they selling out a bit at ole St. Margaret’s ?
This isn’t just a guy who skirted business or tax laws. He used drugs. He engaged prositutes. He cheated on his wife.
It seems to me the school should return the money, lest they seem a little hypocritical … lie down with the dogs, wake up with the fleas.
Gosh “Just Wondering” maybe the school should return just half of the money since the donation came from both Nicholas and his (at the time) wife. While all of you people are throwing stones, you forget you are casting them not only at him…but at his ex-wife and his kids.
To Krista: Nicholas was the first one to cast stones, when he cast them to stop the passing of Prop 66, which would have amended the 3-strikes law. Now, on Prop 9, he cast stones again, which will give the parole board the authority to extend a parole review up to 15 more years for those serving indeterminant life sentences. This includes those 3-strikers serving 25 to life already, for non-violent offenses. Money is power, and power corrupts. And absolute power corrupts absolutely. He has succeeded in this. FOLLOW THE MONEY! His money has brought condemnation on all prisoners and their families. Lucky for him that if he is convicted under federal law, he will not receive the same punishment that he put on those convicted under state law.
Henry Nicholas deserves punishment. The school, his ex-wife, and kids do not deserve the ugly comments (thus the stones).
Nicholas’ sister was murdered a long time ago. That is the reason for the support of the various props.
You are incorrect with your statement regarding “non-violent” offenses. At some point there was a violent crime committed as stated below.
This is associated with prop. 66:
A NO vote of this measure means:
Current sentencing law would remain in effect, requiring offenders with one or more prior convictions for serious or violent felonies to receive longer sentences for the conviction of any new felony (not just a serious or violent felony). In addition, prison sentences for certain sex offenses against children would remain unchanged.
This is a link for prop 9 - Marcy’s law (his sister’s name)
http://www.smartvoter.org/2008/11/04/ca/state/prop/9/
Dr. N never hurt anyone, except perhaps
his wife. He donated, he tried to help
employees, he built huge wealth based
on his brains.
So he partied. Who did he hurt?
If you think he hurt stockholders, that’s
an SEC matter. His personal life
is not criminal, and its not for others
to judge.
I have to wonder if this man, who also has donated hundreds of millions as well as Fellowships the UC Irvine is still on the payroll or if UC plans to return that ‘light side’ donation as well.