Frank McCourt, who famously took the Los Angeles Dodgers into bankruptcy, before selling the team two years ago, must have kept some money hidden under the mattress because he just blew $100 million to boost the endowment at Georgetown U.
McCourt, 60, who lives in New York, graduated from Georgetown in 1975. His donation, which surpasses a previous university record of $87 million set in 2010, is scheduled to be announced Wednesday.
The McCourt School of Public Policy, to be launched in October, will join a host of schools with a similar mission at other universities…
I always read news of donations like these and think to myself, “WHY?”
It’s remarkable that so many smart business tycoons donate mega millions to universities, not realizing that the brick and mortar model is on its way to irrelevance.
Makes you wonder how smart they really are.
The “McCourt School of Public Policy” seems like a poor investment in terms of its potential humanitarian/charitable impact when you consider what that kind of money might be able to accomplish in economic development or healthcare improvement in the third world, for instance.
I could think of 100 better places to donate that kind of money.
Nathan Harden is editor of The College Fix and author of the book SEX & GOD AT YALE: Porn, Political Correctness, and a Good Education Gone Bad.
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(image: PenWaggener / WikimediaCommons)
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