Harvard Receives $400 Million Endowment Gift

Harvard Receives $400 Million Endowment Gift

has announced a $400 million endowment gift, the largest in its history, from business school alumnus John A. Paulson (MBA, '80), founder and president of Paulson & Co., to the .

Founded in 1847 as the Lawrence Scientific School, the school later became the Division of Engineering and Applied Sciences and then, in 2007, the School of Engineering and Applied Sciences. Since 2007, the newly renamed Harvard John A. Paulson School of Engineering and Applied Sciences has added three undergraduate concentrations (biomedical engineering, mechanical engineering, and electrical engineering) and a master's program in computational science and engineering, while its faculty has grown by nearly 30 percent and course enrollment has increased by nearly 150 percent.

The school is planning for an expansion into Allston, where its scientists and engineers will occupy state-of-the-art research and teaching facilities on a campus adjacent to Harvard Business School and the Harvard Innovation Lab.

"John Paulson's extraordinary gift will enable the growth and ensure the strength of engineering and applied sciences at Harvard for the benefit of generations to come," said Harvard University president Drew Faust. "His appreciation of the importance of SEAS to faculty, students, and schools across the university has motivated a historic act of generosity that will change Harvard and enhance our impact on the world beyond."

"." Harvard University Press Release 06/03/2015.