Former New York Mayor Michael R. Bloomberg’s staggering $1.8 billion gift to his alma mater, the Johns Hopkins University, tops the Chronicle of Higher Education’s list of the largest academic donations since 1967.
Unlike many large gifts, which provide for new facilities, faculty research or other programs, Bloomberg’s gift announced this week will be spent exclusively on scholarships for low- and middle-income students. It will allow Hopkins to ignore applicants’ ability to pay and eliminate the need for student loans from financial aid packages.
The following are the top 10 donations, according to The Chronicle.
1. Johns Hopkins University: from Michael Bloomberg, $1.8 billion for student financial aid
2. Gates Millennium Scholars program: from the Bill & Melinda Gates Foundation, $1 billion over 20 years
3. Vedanta University (India): from the Anil Agarwal Foundation, $1 billion endowment to establish the university
4. The Broad Institute: from Ted Stanley, $650 million
5. California Institute of Technology: from Gordon and Betty Moore and the Gordon and Betty Moore Foundation, $600 million
6. Columbia University and NewYork-Presbyterian, from Florence and Herbert Irving, $600 million
7. Oregon Health & Science University: from Penny and Phil Knight, $500 million
8. University of California at San Francisco: from the Helen Diller Foundation, $500 million
9. University of Oregon: from Penny and Phil Knight, $500 million
10. Franklin W. Olin College of Engineering: from the F.W. Olin Foundation, $460 million to establish the college