On June 3rd, John A. Paulson, hedge fund magnate John Paulson made the largest gift in Harvard University’s history, donating $400 million to support the School of Engineering and Applied Sciences (SEAS). Paulson is a 1980 Harvard alumnus and is the founder and president of Paulson & Co.
At the event, Paulson stated, “‘There is nothing more important to improve humanity than education. For 379 years, Harvard has had a profound global impact across a multitude of disciplines that benefits all of humanity. Today’s gift will help continue that legacy by making SEAS a 21st-century engineering leader. It provides a solid endowment for faculty development, research, scholarships, and financial aid,’” (Harvard Receives Its Largest Gift, Harvard Gazette).
SEAS was founded in 1847 as the Lawrence Scientific School and later changed its name to the School of Engineering and Applied Sciences in 2007. The school has three undergraduate-level concentrations, which include biomedical engineering, mechanical engineering, and electrical engineering. There is also a master’s program that focuses on computational science and engineering. To honor Mr. Paulson, the School will be renamed the Harvard John A. Paulson School of Engineering and Applied Sciences.
John A.Paulson was born in Queens to a father from Ecuador who served in the United States Army during WWII. Paulson founded Paulson & Co. in 1994 with $2 million, a company that now stands as one of Wall Street’s most successful hedge funds after making billions of dollars in 2007. The company specializes in alternative investments and manages over $18 billion. Before finding his company, Paulson worked at several firms including Bear Stearns and the Boston Consulting Group.
Harvard University acknowledges Paulson as an extremely intelligent, generous humanitarian who has donated to a plethora of causes involving the arts, health care, conservation, and, of course, education. He currently serves in the Harvard Business School Board of Dean’s Advisors, along with the Central Park Conservancy, the New York University Board of Trustees, and the Metropolitan Museum of Art.
To read more about John A. Paulson’s latest donation to Harvard, read this article published by the Harvard Gazette.