Hedge fund manager Griffin gives $150 million to Harvard
By Svea Herbst-Bayliss
BOSTON, Feb 20 (Reuters) - Billionaire investor Kenneth
Griffin, who started his hedge fund in his dormitory room at
Harvard University, is donating $150 million to his alma mater
in what will be the largest single gift ever made to the Ivy
Griffin, who graduated from Harvard 25 years ago, said the
gift will mainly support the university's financial aid program,
benefiting as many as 800 undergraduate students every year.
The donation should be "an investment in the next generation
of leaders as we continue to break down barriers to an
outstanding education," Griffin said in a statement.
After beginning to bet on convertible bonds while living at
Cabot House, Griffin went on to found Chicago-based Citadel LLC,
one of the world's biggest and most successful hedge funds. Last
year, Griffin's net worth was estimated at $4.4 billion,
according to Forbes.
For Harvard, already the richest university in the world
with a $32.7 billion endowment, the donation comes at a time