Hedge Fund Founder Donates Record $500M to Alma Mater

Stony Brook University received a $500 million donation from billionaire alumnus Jim Simons, the largest gift ever to a public university.
The donation will significantly boost Stony Brook's endowment and enable increases in financial aid and faculty salaries.
The gift was given without naming rights, an unusual move, and will be paid over seven years.
New York State will match $200 million of the donation, doubling its impact.
Simons hopes the landmark gift will spur further donations to Stony Brook.