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Chicago gets $20M – Alumnus sells stock, gives cash

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Max Palevsky, one of Intel’s original investors, donated $20 million to the University of Chicago for dormitories, Bloomberg reported June 29.

Palevsky, whose parents were illiterate immigrants from eastern Europe, earned degrees in mathematics and philosophy from the university. Palevsky founded Scientific Data, which was sold to Xerox Corp. in 1970. He sold 92,000 shares of Intel at prices as high as $129.04 each in the first week of May.

For full text, go to America Online.

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