EBay Founder Gives $100 Million to Tufts

The Herald-Sun ^ | Nov 4, 2005

[nickcarraway]

MEDFORD, Mass. -- The founder of eBay donated $100 million to Tufts University to use for making loans as little as $40 to people in developing countries who want to start businesses.

Pierre Omidyar and his wife, Pam Omidyar, said they want their alma mater's largest gift ever to show how so-called microfinance loans can be used as a development tool, promoting small-scale enterprises like weaving or farming.

"We believe that business can be a tool for social good," Omidyar said in a statement. "Microfinance has already shown that enabling the poor to empower themselves economically can be good business."

Half the proceeds from the loans will support Tufts faculty, financial aid, debt forgiveness for graduates seeking public service careers and scholarships for low-income students to attend summer classes. The other half will be reinvested in microfinance programs.

Omidyar founded eBay, the Internet auction site, and, with his wife, the Omidyar Network, a hybrid philanthropy and investment group.

Pierre Omidyar, who graduated from Tufts in 1988, is also a university trustee and remains eBay's chairman. Pam Omidyar graduated in 1989.

[dollar_dog]

just looked up ol' Pierre on NewsMeat. Good Lord, what a liberal fool!

[Brainhose]

Why do these jackasses give 10's of millions od dollars to these colleges that are already swamped with money?
Earlier this year another billionaire donated 100 million to Harvard.
Harvard has well more than 18 billion in the coffers. These liberals are fools.

[conservatism_IS_compassion]

Omidyar founded eBay, the Internet auction site, and, with his wife, the Omidyar Network, a hybrid philanthropy and investment group.

Sounds like compassionate conservatism to me!

[Gay State Conservative]

Harvard has well more than 18 billion in the coffers. These liberals are fools.

You clearly don't know the cost of living in Cambridge. These days,it's hard to find a single family house within 2 miles of Harvard or MIT for less that a million dollars and it's hard to find a condo in those same areas for less than $400,000.

[Brainhose]

I know Harvard square very well, and all the punks that hang out in "The Pit" behind "Out Of Town News".
I used to hang out there back in the days of the old wooden escalator, atleast 35 years ago, long before the recent violent crowd.
If some jerk really wanted to contribute to Harvard, he'd put a stipulation in the contract that the square be cleaned up.
How old are you? because you seem to imply that I am some kind of mentally deficient individual who doesn't know what is going on in Harvard Square.
Plus how in all heck does the cost of real estate in Cambridge have to do with some flaming dildo donating 100 million dollars to a university with an 18 billion dollar endowment?
I guess I'm just not as brilliant as you.
You sound more like a "Gay State Liberal" with your reply.

[Extremely Extreme Extremist]

Why do these jackasses give 10's of millions od dollars to these colleges that are already swamped with money?

I don't understand it either. I wish they donate money to trade schools, technical and junior colleges. That's where the real brains are, instead of these universities that offer courses in African-American or feminist studies.

But it's their money, I guess.

[Gay State Conservative]

My post was made in a sarcastic frame of mind (which,unfortunately,I failed to make clear).

The implication was that the rich Maoists that make up the faculty and administration of the school need the outrageous
salaries they now get (and are made possible by Harvard's
enormous endowment) in order to afford the breathtakingly
overpriced residential real estate that surrounds the campus.