Aussie Finance Mogul Donates $75 Million to Alma Mater

Commodities billionaire Graham Tuckwell and his wife, Louise, have given $100 million Australian ($75.5 million U.S.) to Australian National University, the largest donation for higher education in the country’s history, The Canberra Times writes. The college will use the money to build two new residence halls, with revenue from the housing to fund a major expansion of its existing Tuckwell Scholarships program.

Mr. Tuckwell, the founder of investment and trading firm ETF Securities, and his wife are graduates of the university. They established the scholarship program with a $52 million gift in 2013. The new halls, set to open in 2019 with 800 beds, are expected to generate more than $150 million for the program over the next 30 years.