A $4 billion fortune from the late Western Australian businessman Stan Perron will go to WA charities, following on from years of philanthropic commitments.

The Perron Group announced that while Perron had made “appropriate” provisions for his family, the majority of his fortune will go to the Stan Perron Charitable Foundation. The foundation has already donated tens of millions of dollars to WA charities.

Perron Group Chief Executive Ross Robertson said in a statement that consistent with Perron’s “ordered approach to business”, he “put in place very clear guidelines on how Perron Group should be structured and managed after his passing”.

“In accordance with the promise he made to himself as a young boy, Mr Perron has provided appropriately for his family. However, the great majority of Perron Group’s assets and future earnings will now benefit the Stan Perron Charitable Foundation.

“This aligns with Mr Perron’s ongoing vision for the company – excellence in business with integrity and compassion,” Robertson said.

In a prior statement, Perron said: “I have accomplished my boyhood goal and have provided for my family, but, far beyond this achievement, I am in the very fortunate position of being able to give back to others who are disadvantaged.

“In 1978, I established the Stan Perron Charitable Foundation to provide a formal structure to facilitate my philanthropy and enable future generations of my family to continue my legacy.”

Prior to his death, Perron set guidelines for the foundation’s trustees for the allocation of the funds. Robertson and Perron’s daughter, Elizabeth Perron, has succeeded him as Chair of the foundation and will join the board of all Perron Group subsidiaries.