Griffin Gives Harvard Record Donation

February 20, 2014 Debbie Jacobs Hedge Fund News

Kenneth Griffin, who started first hedge fund from his dorm room in Cabot House when he was a student at Harvard, donated $150 million to his alma mater. The gift is the largest single donation Harvard has received in its history.

Griffin graduated from Harvard 25 years ago and then went to Chicago to create Citadel LLC, one of the largest, and most successful, hedge funds in the world. Forbes reported last year that Griffin’s net worth amounted to about $4.4 billion.

The donation will be used to support financial aid at Harvard. There will be 200 Griffin scholars who will benefit from the new money, and an additional 600 students will be provided with matching fund scholarships through a newly established financial aid program.

Griffin sees the donation as “an investment in the next generation of leaders as we continue to break down barriers to an outstanding education.”

Harvard is the richest university in the world, with an endowment equaling $32.7 billion. An education at Harvard can cost students as much as $65,150 per year but about 60 percent of their students receive some form of financial aid. Qualified students whose parents make less than $65,000 year can attend Harvard free of charge.

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

Citidal Llc, Drew Gilpin Faust, Harvard, Kenneth Griffin,

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