Henry Kravis today announced that he will donate $100 million to the Columbia Business School, to help build around 450,000 square feet of new facilities on an old Manhattanville manufacturing zone.
The private equity kingpin graduated from CBS in 1969, and co-chairs its board of overseers. He also founded and chairs the New York City Investment Fund, which complements Columbia’s work with entrepreneurs in West Harlem.
This is the largest gift ever received by CBS, followed by Art Samberg’s $25 million faculty development challenge grant (which has endowed 15 professors).
Kravis’ move comes just one week after Facebook founder Mark Zuckerberg committed $100 million to the Newark public schools. Other recent century checks were written by George Soros for Human Rights Watch and by Kravis rival Steve Schwarzman for the New York Public Library. And then there are the Giving Pledge folks, including hedge fund manager Julian Robertson, Carlyle boss David Rubenstein and Blackstone co-founder Pete Peterson.
In short, it’s heady times for big-splash, billionaire philanthropy.
Below is a video of Kravis discussing his gift: