Harvard Billionaires Bail Out Alma Mater from Poor Fund Returns

Three years ago, hedge fund billionaire John Paulson offered his alma mater, Harvard Business School (MA), an enormous gift. Nitin Nohria, the school’s dean, responded in a way that would shock most other charitable organizations: Thanks, but we don’t need it. Instead, Nohria suggested that Paulson direct the money toward Harvard’s engineering school, according to people familiar with the exchange. So, in 2015, Paulson did just that, giving $400 million, a gift the university called its largest ever.  This embarrassment of riches helped Harvard University raise more than $9 billion in its most recent fundraising campaign.