Hedge fund manager Ken Griffin gave Harvard University the largest gift in the school’s history.
The Wall Street Journal reported that Harvard graduate Griffin gifted the university with $150 million, which is expected to help as many as 800 undergraduates in need of financial aid annually.
Griffin, the founder and CEO of Chicago-based Citadel, told the news outlet that he made the donation because he believed Harvard’s need-blind admissions policy “a matter of principle.” He also said that he hopes to donate more to Harvard in the next few years and called for his peers to consider doing the same.
Harvard will rename its financial aid office after Griffin in recognition of the donation.
One of the largest hedge funds globally, Citadel manages approximately $20 billion in assets.