When it comes to generous donations businessman Graham Tuckwell has topped the class.

He has just donated $50 million dollars to his old university, the Australian National University in Canberra.

The philanthropist says he'd rather donate the money than pass it on to his children.

"Giving too much money to kids, actually destroys their life, it's not good for them, they need to achieve in their own right," philanthropist Graham Tuckwell said.

The University says it was gobsmacked when it learnt of Mr Tuckwell's donation.