What would you do with $40 million? Spend it? Save it? Buy a small tropical island to call your own?
The answer to that question will vary depending on who you ask. For Alaska Electric Light & Power Co. owner Bill Corbus, the answer came easy: Give it away.
That’s what Mr. Corbus said his intentions would be after he sells his company to Avista Utilities, based in Spokane, Wash., after the two companies merge. The deal is expected to close July 1, 2014. Mr. Corbus is donating 90 percent of his shares, roughly $40 million, to the Juneau Community Foundation.