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10 Sep 2014

Their father, T.H. Chan, founded the Hang Lung Group Ltd, one of Hong Kong's largest real estate companies. After Chan's death in 1986, his sons started the Morningside Group, which makes private equity and venture capital investments in biotech and other science- and technology-based companies, especially in China and the United States. The brothers rank 17th on Forbes' 2014 list of Hong Kong's richest people with a combined net worth of $2.95 billion. The previous record gift to Harvard, announced earlier this year, was $150 million from hedge fund manager and alumnus Kenneth Griffin, most of it for financial aid. The largest cumulative donation to any U.S. university, unadjusted for inflation, is $1.1 billion over many years from former New York City Mayor Michael Bloomberg, founder of Bloomberg LP, to his alma mater Johns Hopkins University, including its now-eponymous School of Public Health. In an interview, Gerald Chan called his days as a student at the Harvard School of Public Health "transformative," a time when he learned that "science can be put into action for the improvement of human health." Research at the school has led to the Designated Driver Campaign to prevent drunk driving; stricter Clean Air Act regulations; and bans on trans fats after studies showed they increase the risk of heart disease.
For the original version including any supplementary images or video, visit http://news.yahoo.com/harvard-receives-largest-ever-gift-350-million-public-040613015.html


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