Billionaire hedge-fund manager John Paulson has donated $400 million to Harvard for its engineering school—the largest donation in the university’s history. The engineering school will be renamed the John A. Paulson School of Engineering and Applied Sciences. According to the university, the gift will be used to fund research, teaching, financial aid, and faculty development at the school of engineering.
Paulson is an alumnus of Harvard Business School who has made billions operating Paulson & Co, his hedge fund.
Harvard is the world’s richest university, with an endowment of $36.4 billion. The university is two years into a 5-year, $6.5 billion fundraising campaign, that has already brought in significant gifts (totaling over $5 billion by the end of 2014).