Harvard receives $150m donation from top CEO

Piggy Bank

Harvard University received a $150m donation from Kenneth Griffin, the 45-year-old founder and CEO of Citadel Advisors, mainly to support financial aid.

Bloomberg reports that the gift is the largest in the history of Harvard College, the university’s undergraduate school that was established in 1636, the school said in an e-mailed statement.

Harvard President Drew Faust has expanded the college’s financial-aid program so that families with annual incomes of $180,000 or less pay no more than 10% of their incomes for their child to attend. 20% of undergraduates’ families pay nothing, according to the Cambridge, Massachusetts-based school’s website. Griffin’s gift will provide funds for as many as 800 students annually, the university said in the statement.

'Ken Griffin’s extraordinary philanthropy is opening Harvard’s gates wider to the most talented students in the world, no matter their economic circumstances,' Faust said in the statement.

To access the complete Bloomberg article hit the link below:

Citadel's Griffin Gives Harvard $150 Million for Student Aid

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