The New York University Stern School of Business announced that John Paulson, the founder and chairman of hedge fund Paulson & Company pledged a gift of $20 million to his alma mater. The gift is earmarked to endow to chairs; the Alan Greenspan Chair in Economics; and the John A. Paulson Professor of Finance and Alternative Investments. The money will also be used to help fund NYU’s Concourse Project, which is a major undertaking to renovate major facilities at NYU; and will also help fund scholarships for undergraduates at the university.
“We are extremely grateful for John’s support,” said Thomas F. Cooley, dean of NYU Stern. “His generous gift will not only further strengthen Stern’s research capability, particularly in the areas of finance and economics, and provide scholarships for undergraduate business students, but it will also help us provide our students with a modernized learning environment that matches the high quality educational experience we deliver.”
John Paulson graduated from NYU College of Business and Public Administration in 1978, before it was known at NYU Stern, summa cum laude, and was the class valedictorian. Today Paulson is a member of the school’s Board of Overseers, and said this about his donation:
“NYU Stern, like other universities, faces financial pressures in the current environment and relies on the support of its alumni. I am grateful for the education I received at Stern. My hope is that this gift will advance the School’s mission as a global leader in business education and economic research as well as provide scholarships to gifted students with financial needs.”