Super-Rich Person Does Something Good

Okay, so Mad Professah has been critical of the super-rich in the past for their miserly contributions as a class to philanthropic institutions so I did want to point out that recently a super rich person did something very nice.

John W. Kluge, who launched his media empire with an investment in a Washington-area radio station, has pledged $400 million from his estate to Columbia University.

The promised gift, one of the largest ever from an individual to a university, will be used exclusively for student financial aid.

Kluge, 92, an immigrant from Germany who graduated from Columbia 70 years ago, served in the military and went into business in the 1940s.

[...]

Philanthropy to higher education has been doubling every decade, [John] Lippincott [President of the Council for Advancement and Support of Education] said. "We're now at about $28 billion a year."

Of course, Columbia only gets the money after Kluge dies, and he gets the glory now while he is alive. But, hey, what's the point of giving away a bunch of money to higher education if no-one knows who you are.