Billionaire John Paulson donated funds to the Faculty of Engineering

Harvard University received the most expensive gift in its history. Harvard graduate billionaire John Paulson, founder and president of the hedge fund Paulson & Co. John Paulson donated $400 million to the Faculty of Engineering and Applied Sciences.

The transferred $400 million - and this is the largest donation in the history of Harvard University - will go to support and develop the Faculty of Engineering and Applied Sciences, which has many technical achievements and discoveries (self-organizing groups of robots, robots that can assemble themselves, an implantable cancer vaccine etc.).

At a gala to mark the donation, billionaire John Paulson, a former Harvard Business School graduate, said the donation would make the faculty "a major new center for innovation." “Today many people thanked me for this gift and I really appreciate it. But for me, today is an opportunity to thank Harvard for what it has done for me, for so many others and for our country, society and humanity,” said the billionaire, known for his extensive philanthropic activities. In gratitude for their support, Harvard University will name its engineering department after John Paulson.

Harvard University is the richest university in the world. Its work is supported by the Harvard University Foundation, which has assets of approximately $32 billion. Between 1990 and 2005, when the Harvard Management Company was headed by financier Jack Mayer, the fund's holdings grew from $5 billion to $26 billion. The average annual return on investments with Mr. Mayer was almost 16%. According to the National Association of College and University Business Officers and Commonfund Institute, the top five largest endowments also include the foundations of Yale University ($21 billion), the Association of Texas State Universities ($20 billion), Stanford University ($19 billion) and Princeton University ($18 billion). .

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Harvard receives $400 million gift from alumnus