With the latest $150 million donation, it’s easy to think the wealthy university’s wealthy alumni simply shower them with riches. Okay, they sort of do, but it’s important to look at such gifts in the context of the school’s powerful and strategic fundraising machine, as well as some national trends. Even a record-breaking donation is just the tip of the iceberg.
Legend has it that Kenneth Griffin first started trading stock options from his dorm room in Harvard, and now he wants to make good by giving $150 million to his alma mater. But who exactly is he, and what does he do with his substantial hedge fund wealth?