McGill University has received a $42.4 million gift from Canadian scientist and alumnus Richard Tomlinson, the Montreal school’s biggest donation and one of the largest university gifts in Canada’s history, Bloomberg reports.
The gift is in the form of 4 million stock shares of Gennum Corp., an Ontario technology company founded by Tomlinson after he graduated from McGill in 1948 with a Ph.D in Chemistry.
McGill plans to add the shares, which have more than tripled since 1996, to the university’s endowment fund, said Tom Thompson, deputy director of development at McGill.
The gift will finance six university chairs, more than 40 fellowships, a library expansion, and the enhancement of other teaching and research facilities.
The Times of London reported yesterday that Bill Gates will give the University of Cambridge $192 million – the largest donation ever to a British university — for graduate scholarships.