Tycoon gives up fortune in ‘pact with God’

A TYCOON is to fulfil a “pact with God” he made as a struggling young man and donate most of his vast wealth to charity, it was disclosed yesterday.

Albert Gubay, 82, a life-long Roman Catholic, has placed his business empire, which is worth at least £600 million (€667m), into a trust to be passed into a charitable foundation on his death.

A spokesman said the entrepreneur hopes the charity will be worth £1 billion and will generate £20m a year for good causes.