Milken and Redstone Groups Give $80-Million to D.C. University

Charities associated with former financier Michael Milken and media mogul Sumner M. Redstone have pledged a combined $80-million to back public health initiatives at George Washington University, reports The Washington Post.

Half of the money will flow over five years from the Milken Institute to the university’s School of Public Health, which will be named for the institute. The Milken Family Foundation is providing an additional $10-million to support the school’s deanship, and Mr. Redstone’s foundation is contributing $30-million over five years to establish a center for prevention and wellness.

“We need to effect a change in leadership in prevention and wellness, and you need a presence in the area where health policy’s being made,” Mr. Milken said, noting George Washington’s proximity to the White House and myriad government, nonprofit, and research agencies that shape health policy.