Harvard Receives Largest Donation in School’s History: US$350 million from Hong Kong Alumnus
Harvard University has announced US$350 million donation to its School of Public Health. The donation comes from The Morningside Foundation, an organization established by Harvard graduate Gerald Chan and his brother Ronnie Chan.
The brothers own the private equity and venture capital-focused Morningside Group, as well as the Hang Lung Group, a real estate investment and development company, established by their late father, T.H. Chan. In honor of their gift, the university will rename the school as the Harvard T.H. Chan School of Public Health.
In a press release, David Hunter, the Vincent Gregory Professor in Cancer Prevention and the school’s academic dean said he was particularly gratified that the gift came from an alumnus, illustrating the link between the School, its students, and its alumni community, and linking the past and the future.
The donation will be used by the school to tackle major global health threats, as well as for increasing student diversity within the school. The school’s administration hopes the funding will also lessen the school’s dependence on government research grants.
The donation comes as part of The Harvard Campaign, a seven-year, US$6.5 billion fundraising effort that kicked off its public phase a year ago and which, by the end of May, had raised more than US$3.8 billion from more than 100,000 donors.