Foundations Give $50-Million to Yale

Two foundation gifts totaling $50-million will support Yale University’s work on collaborative efforts in China, reports the Yale Daily News.

The Maurice R. and Corinne P. Greenberg Family Foundation and the Starr Foundation each gave $25-million to the effort, the paper reports. Mr. Greenberg, former chairman and chief executive of American International Group, an insurance company, and current chairman of the Starr Foundation, is not a Yale alumnus. The Starr Foundation was established by the founder of American International Group.

”[Mr. Greenberg has] been very intensely interested in China for a long time, and he sees Yale’s commitment to educating Chinese students as a natural area of support,” Yale President Richard Levin said.

The donation will pay for the Maurice R. Greenberg Yale-China Initiative to provide money for the World Fellows Program, and for a new Greenberg International Conference Center. It also will provide financial support for Greenberg Scholars, Yale students abroad in China, and Chinese students at Yale, the paper reports.