Stewart Rahr donates $3 million to Prostate Cancer Foundation

Announcement made at Hamptons event hosted by Michael Milken

NEW YORK — Former Kinray owner Stewart Rahr has made a large donation to an organization looking for a cure for prostate cancer.

Saying the move "stunned the crowd," Rahr announced at a gathering at the Hamptons on New York's Long Island that he would donate $3 million to the Prostate Cancer Foundation, an initiative run by investor Michael Milken, who was host to the event.

Other attendees included David Koch, Eddie Trump, former New York Gov. David Patterson and others.

Rahr announced a deal to sell New York-based Kinray to Cardinal Health in November 2010 for $1.3 billion, setting aside $100 million to establish the Rahr Foundation for philanthropic causes.

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