GO
Loading...

Enter multiple symbols separated by commas

Kluge to Give up to $600 Million to Columbia University

Media mogul John W. Kluge plans to give at least $400 million and up to $600 million to Columbia University, a source familiar with the donation told WNBC late Tuesday.

The donation to Kluge's alma mater will be used for undergraduate and graduate financial aid. The amount of the donation, believed to be the largest ever to Columbia, will depend on the value of Kluge's estate at the time of his death.

Kluge, 92, attended Columbia on an academic scholarship and graduated in 1937.

A press conference announcing the donation is expected to be held at 11:45 am New York time, with New York Mayor Michael Bloomberg, former Mayor David Dinkins and Rep. Charles Rangel in attendance.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginni Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginni Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.