TV Mogul Promises $400 M. to Columbia

Wed, 11 Apr 2007 11:25:37 -0400

In a press conference in a faculty room at the Low Memorial Library, it was just announced that John W. Kluge has pledged $400 million to Columbia University, his alma mater (Class of '37). It will be a gift from his estate, half of which will go to the college. Mr. Kluge—who was in attendance along with unviersity Preisdent Lee Bollinger—said that the money is too be used to make the university more international.

"The reason that I'm doing this is because I believe in it," said the 92-year-old Mr. Kluge. Mr. Kluge has already donated over $100 million to the unversity to help with financial aid. This gift will continue this work, but with a focus on foreign students. "I look forward to Columbia having more global students. And what better city than the city of New York?"

Mr. Bollinger, whose expansion plans have been attacked recently, made it clear that this money is not in any way tied to his proposed Manhattanville expansion—although it could be used for that down the line.

"The gift will go towards the globalization and internationalization of the university" said Mr. Bollinger. "I'm not interested in buildings. I'm interested in minds."

Observer » TV Mogul Promises $400 M. to Columbia

TV Mogul Promises $400 M. to Columbia