Mining tycoon throws Christmas party for poor

Famously generous mining mogul Clive Palmer threw a Christmas party today at his five-star resort at Coolum, Queensland, for 650 Australians a lot less wealthy than himself.

“In the final analysis in life, materialism isn’t all that’s important,” he told the national news agency AAP. “The only purpose of money is to spend it in the benefit of other people.”

Two years ago, Palmer spent 10 million Australian dollars (R88.4 million) on end-of-year bonuses for his employees, which included 55 Mercedes-Benz cars and 1 500 all-expenses-paid trips to Fiji.

Asked how much the Christmas party for people in need would cost, Palmer said: “I don’t know. I don’t worry about those things. I just sign the cheques.”

- Sapa-dpa