Harvard gets $ 400 million alumnus in record donation

John Paulson is responsible for the largest donation in the history of the institution. American is president of investment firm Paulson & Co.

Harvard University, USA, received a donation of $ 400 million, equivalent to R $ 1.2 billion, the former student John Paulson. The entrepreneur is responsible for the largest donation in the history of the School of Engineering and Applied Sciences. Due to this, the institution will be called John Paulson School of Enegnharia and Applied Sciences at Harvard, reported the Journal of School on Wednesday (3).

In September 2014, another former student made a donation of US $ 350 million worth, to be used in research on Ebola cure and other pandemics.

The amount donated by Paulson is equivalent to 24% of the budget of the University of São Paulo (USP), one of the largest in Brazil.

According to the institution, the money will finance the expansion of the School of Engineering and Applied Science, where they came from different technological advances. Paulson says the site should become "the next big innovation center".

"This extraordinary John Paulson will allow growth and ensure the strength of engineering and applied science at Harvard for the benefit of future generations," said Drew Faust, president of Harvard University.

John Paulson is the founder and president of Paulson & Co. investment firm The US started the company in 1994 with about $ 2 million. Today, manages more than $ 19 billion.

In September 2013, the institution has launched a campaign to raise $ 6.5 billion to shape the future of education focusing on the aspirations of the University.