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John Paulson Gives $400M to Harvard for Allston Expansion

John Paulson Gives $400M to Harvard for Allston Expansion

For the largest gift in its 379-year history, billionaire hedge fund manager John Paulson (right, with Business School Dean Nitin Nohria and Harvard President Drew Faust) is giving the university—specifically the B–School—a $400M endowment to support the School of Engineering and Applied Sciences and to fund its long-planned development of a new campus in Allston. This Harvard Business School grad (’80), runs Paulson & Co., a hedge fund with $19.5B in assets under management. For John, the gift is one notch above a rounding error on his 2013 salary, $2.3B, and it will go into Harvard’s $6.5B, two-year-old fundraising campaign.