To help the Wicks set up a private philanthropic foundation — one of 1,600 in Australia.
"We're probably giving away each year maybe 10 times what we need to live," Jeff says.
Most foundations operate through the investment of a main sum, or the 'corpus', and profits are used for grants.
But a growing number of Australian philanthropists, like the Wicks, are establishing foundations designed to run out of money.
They see no point in continuing giving beyond the next decade — which will be critical in the fight against climate change.
It's called spending down.
Throwing everything at the climate problem
Sue McKinnon and her husband John also run a philanthropic foundation, which will give away about $10 million over 10 years.
Initially, the family foundation was to have continued well into the future.
But Sue says "the best legacy we could leave is one of avoiding catastrophic climate change".
"I know Australia is a small place, but it's a big actor on the world stage when it comes to fossil fuels, social license and the control and influence that various players here have," she tells RN's The Money.
"We decided that more needs to be thrown at it, we need the best brains and the most money in the room."
The McKinnon Foundation fights climate change through the legal and financial sectors.
"Finding other really terrific people to do it with really helps. Whether they're some of the amazing staff in these organisations, the lawyers, the finance experts, and so on," Sue says.
In other circumstances, it might be deploying capital to obtain a major shareholding or a seat on the board.
Sue notes that advocacy can be frustrating and difficult to measure — but that's where her business background comes into play.
"Our whole selves come to this. Our skills, education, networks, and the energy and the time that we can put into this. That's what we work on."
A 'big, hairy, ambitious goal'
Norman Pater wants to spend $40 million in the next 10 years.
He's just returned from a trip to the mid-west wheat belt of Western Australia where he bought three farms, each about 2,000 hectares, which are being reforested as part of his Carbon Farming Foundation.
"Our immediate goal is to revegetate biodiversity, at least one million hectares," the former IT entrepreneur says.
"This is the big, hairy, ambitious goal that we've set ourselves.
"I get the sense that the neighbours think we are loco."
In 2011 Norman attended a training weekend with former US vice-president and environmentalist Al Gore.
That, he says, "was really the big awakening for me".