3 ms·

I don't think one donates money to Harvard just for the sake of a plaque. I guess there is some sort of indirect benefit to be had after such a donation, like

I don't think one donates money to Harvard just for the sake of a plaque. I guess there is some sort of indirect benefit to be had after such a donation, like an entry pass for a child, an entry pass for a PhD, or something of that vein?

dmix 4y ago
Definitely, the plaque is what's "sold" but it's not (just) what you're purchasing slash donating for. The article touches on that.
slyall 4y ago
He has 3 children. Aged 15, 13 and 11. If I was one of the kids, I would have taken $100m directly.
- nmjohn 4y ago
  He is worth like $40B - that $100m would be nothing compared to what they'll likely inherit
  - riazrizvi 4y ago
    I can’t imagine $300mm is the standard price for whatever favorable treatment he’s buying for his kids. I imagine there is a steep billionaire premium. Similar to how a Western tourist is overcharged non-local rates.
- vecter 4y ago
  They'll never have want of money their entire life. But a prestigious education... well that's something that's worth more than a lot of money to those who have almost limitless wealth.
- paulpauper 4y ago
  His net worth is tens of billion. they will be getting plenty , no worries. Once you have so much money an Ivy League education is not important. you can buy your way into anything.
prng2021 4y ago
I think that’s thinking too much into it. He could have spent 1/10th of that and got those things in return. These billionaires want fame and to be the focus of discussions like this one. They know people will be in awe over such a huge sum of money. That’s what $300M buys you and is so much more interesting than buying a product: attention and fame.
- fastball 4y ago
  1/100th probably.
- throwaway2037 4y ago
  Football clubs in Europe are similar. Billionaires are buying adoration.
  - lordnacho 4y ago
    That's also one of the riskiest ways to try to buy the love of the masses. Countless rich guys have become persona non grata in the communities where they bought and mishandled the local club. There's a few Chelsea or Leicester type stories where the buyer really is loved, a few where fans grudgingly accept they've done well but they'd rather not talk about where the (oil) money came from, and then quite a few where the new owners are reviled.
- singhrac 4y ago
  I'm fairly certain he already guaranteed that with his $150mm previous donation in 2014, which at the time was the largest gift in Harvard College's history. Note that in that case, $125mm was earmarked specifically for financial aid.
cmh89 4y ago
>I guess there is some sort of indirect benefit to be had after such a donation, like an entry pass for a child, an entry pass for a PhD, or something of that vein? You could get that for a million probably. He donated it because he's a vain billionaire who wants the world to remember him despite not achieving anything memorable.
jimbokun 4y ago
$300 million is a lot to pay for your kids’ tuition.
fshbbdssbbgdd 4y ago
It doesn’t cost $300m to get your kids into Harvard.
samdcbu 4y ago
He previously donated $150m to Harvard College so his children are already all but guaranteed admission. He already has all the benefits Harvard gives mega donors, there isn’t any marginal benefit to this donation other than a department renaming. The only possible thing left for them to give him would be a seat on the Harvard Board of Overseers but that’s unlikely because he is now a politically controversial figure. He also has a history of mega donations to universities in exchange for department renaming, like his $150m donation to UChicago which renamed their economics department after him (the most prestigious part of the university)

dmix 4y ago

Definitely, the plaque is what's "sold" but it's not (just) what you're purchasing slash donating for. The article touches on that.

slyall 4y ago

He has 3 children. Aged 15, 13 and 11. If I was one of the kids, I would have taken $100m directly.

nmjohn 4y ago
He is worth like $40B - that $100m would be nothing compared to what they'll likely inherit
- riazrizvi 4y ago
  I can’t imagine $300mm is the standard price for whatever favorable treatment he’s buying for his kids. I imagine there is a steep billionaire premium. Similar to how a Western tourist is overcharged non-local rates.
vecter 4y ago
They'll never have want of money their entire life. But a prestigious education... well that's something that's worth more than a lot of money to those who have almost limitless wealth.
paulpauper 4y ago
His net worth is tens of billion. they will be getting plenty , no worries. Once you have so much money an Ivy League education is not important. you can buy your way into anything.

prng2021 4y ago

I think that’s thinking too much into it. He could have spent 1/10th of that and got those things in return. These billionaires want fame and to be the focus of discussions like this one. They know people will be in awe over such a huge sum of money. That’s what $300M buys you and is so much more interesting than buying a product: attention and fame.

fastball 4y ago
1/100th probably.
throwaway2037 4y ago
Football clubs in Europe are similar. Billionaires are buying adoration.
- lordnacho 4y ago
  That's also one of the riskiest ways to try to buy the love of the masses. Countless rich guys have become persona non grata in the communities where they bought and mishandled the local club. There's a few Chelsea or Leicester type stories where the buyer really is loved, a few where fans grudgingly accept they've done well but they'd rather not talk about where the (oil) money came from, and then quite a few where the new owners are reviled.
singhrac 4y ago
I'm fairly certain he already guaranteed that with his $150mm previous donation in 2014, which at the time was the largest gift in Harvard College's history. Note that in that case, $125mm was earmarked specifically for financial aid.

cmh89 4y ago

>I guess there is some sort of indirect benefit to be had after such a donation, like an entry pass for a child, an entry pass for a PhD, or something of that vein? You could get that for a million probably. He donated it because he's a vain billionaire who wants the world to remember him despite not achieving anything memorable.

jimbokun 4y ago

$300 million is a lot to pay for your kids’ tuition.

fshbbdssbbgdd 4y ago

It doesn’t cost $300m to get your kids into Harvard.

samdcbu 4y ago

He previously donated $150m to Harvard College so his children are already all but guaranteed admission. He already has all the benefits Harvard gives mega donors, there isn’t any marginal benefit to this donation other than a department renaming. The only possible thing left for them to give him would be a seat on the Harvard Board of Overseers but that’s unlikely because he is now a politically controversial figure. He also has a history of mega donations to universities in exchange for department renaming, like his $150m donation to UChicago which renamed their economics department after him (the most prestigious part of the university)