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Hollywood legend Kirk Douglas has pledged a massive $50 million donation to charity.

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The "Spartacus" star and his wife, Anne, will give the money to five nonprofit organizations through their Douglas Foundation.

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A portion of the cash will go to improve the Harry's Haven Alzheimer's unit at the Motion Picture & Television Fund's retirement home and hospital in Woodland Hills, Calif., while part of the donation will help the Kirk Douglas Theater in Culver City.

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Anne's women's shelter in Los Angeles has also been named as a recipient, as well as Douglas' alma mater, St. Lawrence University in New York, which will receive funding to boost a scholarship program for minority students.

In a statement, 95-year-old Douglas says, "Anne and I are of one mind in our philosophical approach to philanthropy. We believe caring is sharing."