From the early 1980s until his death in 1996, Packard dedicated much of his time and money to
philanthropic projects. In 1964, Packard and his wife had established the
David and Lucile Packard Foundation. In 1986, they donated $40 million toward building what became the
Lucile Packard Children's Hospital at Stanford University; the new hospital opened in June 1991. Prompted by his daughters Nancy and Julie, in 1978 David and Lucile had created the
Monterey Bay Aquarium Foundation. The couple eventually donated $55 million to build the new aquarium, which opened in 1984 with Julie Packard as its executive director. for which the university named the David Packard Electrical Engineering Building in his honor. Packard was a member of the
American Enterprise Institute's board of trustees. He died on March 26, 1996, at age 83 in
Stanford, California, leaving approximately $4 billion (the bulk of his estate) to the David and Lucile Packard Foundation, including large amounts of valuable
real property in
Los Altos Hills. All three Packard daughters sit on the foundation's
board of trustees.
David Woodley Packard, his son, serves as president of the
Packard Humanities Institute. As of 2025, the David and Lucile Packard Foundation has provided $1.2 billion to ocean research and is the leading private benefactor globally. ==Honors==