New Haven, Conn. • Yale University announced a $250 million gift from a 1954 graduate Monday, saying it's the largest in its history and will help pay for the Ivy League school's largest expansion in decades, including an increase in enrollment.
Yale President Peter Salovey announced the gift commitment from Charles B. Johnson, who retired last year as chairman of the board of Franklin Resources, parent company of Franklin Templeton Investments. Salovey said the gift brings Yale within $80 million of the $500 million needed to build two new residential colleges.
"This is an extraordinary commitment from one of Yale's most loyal alumni," Salovey said. "It builds on Charlie's long history of generosity to Yale. This latest gift, in support of the expansion of Yale College, is truly magnificent, and I am deeply grateful."