Bloomberg Businessweek

Billionaires Rescue Harvard From Poor Returns

The richest endowment in higher education lags the Ivy League average, but the school is a fundraising powerhouse

Three years ago, hedge fund billionaire John Paulson offered his alma mater, Harvard Business School, an enormous gift. Nitin Nohria, the school’s dean, responded in a way that would shock most other charitable organizations: Thanks, but we don’t need it. Instead, Nohria suggested Paulson direct the money toward Harvard’s engineering school, according to people familiar with the exchange. So

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