The has announced a $100 million endowment gift from the , to be used as Caltech leadership chooses.
To strengthen Caltech for generations to come, the institute's president and provost have chosen to dedicate the second-largest gift in its history to funding fellowships for graduate students. The school also has established a Gordon and Betty Moore Graduate Fellowship Match, which will provide one additional dollar for every two dollars pledged to its endowment, with the goal of increasing fellowship support by a total of $300 million.
"Those within the institute have a much better view of what the highest priorities are than we could have," said Gordon Moore, who earned his doctorate in chemistry from Caltech in 1954 and went on to co-found Intel Corporation. "We'd rather turn the job of deciding where to use resources over to Caltech than try to dictate it from outside." Describing Caltech as a one-of-a-kind institution in its ability to train budding scientists and engineers and conduct high-risk research with world-changing results, Moore added, "We appreciate being able to support the best science, and that's something that supporting Caltech lets us do." Moore joined the Caltech board of trustees in 1983 and served as chair from 1993 to 2000.
"Our ultimate goal is to provide fellowships for every graduate student at Caltech, to free these remarkable young scholars to pursue their interests wherever they may lead, independent of the vicissitudes of federal funding," said Caltech president Thomas F. Rosenbaum. "The fellowships created by the Moores' gift will help make the institute the destination of choice for the most original and creative scholars, students and faculty members alike."