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Harvard Business School (AP file photo)
The richest university in the world just got richer.
Today, Harvard University — a private institution lionized for its $36.4 billion endowment — announced receipt of a $400 million gift courtesy of Harvard Business School alumnus and billionaire John Paulson, founder of the investment firm, Paulson & Co.
The benefaction represents the largest in the university’s history, topping investor Gerald Chan’s $350 million donation last year.
Paulson’s donation also opportunely intersects with SEAS’ expansion into neighboring Allston as well as a two-year campaign by the university to raise $6.5 billion to support and revolutionize research and educational infrastructure
“There is nothing more important to improve humanity than education,” Paulson said in the news release. “For 379 years, Harvard has had a profound global impact across a multitude of disciplines that benefits all of humanity. Today’s gift will help continue that legacy by making SEAS a 21st-century engineering leader. It provides a solid endowment for faculty development, research, scholarships and financial aid.”
In an interview with the Harvard Gazette, university president Drew Faust added: “John Paulson’s extraordinary gift will enable the growth and ensure the strength of engineering and applied sciences at Harvard for the benefit of generations to come. His appreciation of the importance of SEAS to faculty, students and Schools across the University has motivated a historic act of generosity that will change Harvard and enhance our impact on the world beyond.”
Jaleesa Jones is a summer 2015 USA TODAY College intern and a recent alumna of the University of North Carolina at Chapel Hill.
Campus Beat, donation, engineering, finances, Harvard, Jaleesa Jones, money, science, STEM, USA TODAY College, CAMPUS BEAT
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The richest university in the world just got richer.
Today, Harvard University — a private institution lionized for its $36.4 billion endowment — announced receipt of a $400 million gift courtesy of Harvard Business School alumnus and billionaire John Paulson, founder of the investment firm, Paulson & Co.
The benefaction represents the largest in the university’s history, topping investor Gerald Chan’s $350 million donation last year.
Paulson’s donation also opportunely intersects with SEAS’ expansion into neighboring Allston as well as a two-year campaign by the university to raise $6.5 billion to support and revolutionize research and educational infrastructure
“There is nothing more important to improve humanity than education,” Paulson said in the news release. “For 379 years, Harvard has had a profound global impact across a multitude of disciplines that benefits all of humanity. Today’s gift will help continue that legacy by making SEAS a 21st-century engineering leader. It provides a solid endowment for faculty development, research, scholarships and financial aid.”
In an interview with the Harvard Gazette, university president Drew Faust added: “John Paulson’s extraordinary gift will enable the growth and ensure the strength of engineering and applied sciences at Harvard for the benefit of generations to come. His appreciation of the importance of SEAS to faculty, students and Schools across the University has motivated a historic act of generosity that will change Harvard and enhance our impact on the world beyond.”
Jaleesa Jones is a summer 2015 USA TODAY College intern and a recent alumna of the University of North Carolina at Chapel Hill.
Campus Beat, donation, engineering, finances, Harvard, Jaleesa Jones, money, science, STEM, USA TODAY College, CAMPUS BEAT
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