According to a CNN report, Stanford has received one among the largest gifts ever donated to a business school. The money shall be spent to teach MBA students who are committed and willing to establish or develop organizations to help the poor in the poor part of the world. The fund shall help to create a new institute with th goal to combat poverty in the third world countries.
Robert E.King, a 1960 Stanford Business School alum made the gift of $150 million along with his wife, Dorothy. Mr King said that the move was not just to build a think tank rather it was going to transform lives of the people.