Yahoo Co-Founder Donates $75 Million To Stanford University
Jerry Yang, co-founder of Yahoo Inc. donates a hefty $75 million to Stanford University, his alma mater. Yang attended Stanford University for his bachelor's and master's degrees but never finished his doctorate in electrical engineering. According to a report in Forbes magazine, Yang's net worth was estimated at $2.4 billion as of September 2006.
So far, said donation is the largest of several donations made by Yang to his alma mater. The information was released by Howard Pearson, director of Stanford's development office. Nonetheless, Pearson declined to reveal how much Yang has previously donated. Yang will deliver the donation with his wife, Akiko Yamazaki, also a Stanford graduate.
$50 million of said donation will be paid for new environment and energy building while the $5 million will be spent on a doctor training facility for Stanford's medical school. The remaining $20 million will be used for future projects of the university.
