Billionaire Clive Palmer says materialism and wealth aren't the important things in life, after throwing a charity Christmas lunch for hundreds at his luxury Sunshine Coast resort.

The mining magnate opened up his Coolum resort to 650 disadvantaged Queensland individuals and families on Christmas day.

They were treated to a non-denominational church service in the resort's function rooms, followed by a traditional buffet lunch and entertainment where gifts were handed out.

After the function, they paid a visit to Geoff the dinosaur - the towering life-size creature named after one of Mr Palmer's bitter political rivals.

Mr Palmer was accompanied by his extended family at the function as well as several community volunteers and groups including Mission Australia.

Mr Palmer said he threw the event as a contribution to society, not as a profit-making venture.

"I could have written a cheque for everything, but that would've lost the spirit of Christmas," he told reporters in the Sunshine Coast on Tuesday.

"This is a time we should ponder and think about the community - it's not a money-making event."

He said he wasn't concerned about footing the bill for the function.

"I don't know, I don't worry about those things, I just sign the cheques.

"I haven't run out of money yet."

Mr Palmer said he was joining in the spirit of Christmas by giving back.

"In the final analysis in life, materialism isn't all that's important.

"The only purpose of money is to spend it in the benefit of other people and that's what I want to encourage other people to do.

Asked if he would dress as Santa Claus, Mr Palmer joked: "No, I am the real Santa claus, I can't be dressing up as Santa Claus today".

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