Sequoia Capital President donates $116 million to Oxford University
Wales-born Michael Moritz, president of Silicon Valley’s Sequoia Capital, has donated 75 million pounds ($116 million) to his alma mater, Oxford University. Moritz says the goal is to ensure that money is not a barrier to an Oxford education.
According to the University, the money will be the cornerstone of a fund intended to subsidize fees and costs of living for students who’s family income is less than 16,000 pounds. Approximately 100 students will receive the award in the first year.
Since the British government tripled university fees to 9,000 pounds starting this fall, the number of students applying has fallen. Students on scholarship will pay 3,500 pounds.
More at the New York Times.