Jerry Yang Gives Stanford $75 Million
By: David Utter
The gift from Stanford graduate and Yahoo co-founder Yang and his wife Akiko Yamazaki will help create an environmental studies center at the university.
That new center would see $50 million of the money go toward building the new Environment and Energy Building. Another $5 million would pay for a doctor training facility at the Stanford University School of Medicine.
Stanford noted about the generous gift that the other $20 million would be reserved for future projects. The donations will be made over a period of several years.
"Jerry and Akiko have always been loyal supporters of their alma mater, but this gift is particularly meaningful for the university as it seeks to address important issues of environmental sustainability," said university President John Hennessy.
Stanford represents the place where Yahoo had its genesis back in 1994. Yang and Yahoo's other co-founder David Filo started the website while at the university. Once a simple two-column page of links to a directory of websites, the Yahoo of today is vastly different than the one people first viewed on browsers like Mosaic and Netscape over a decade ago.
Likewise, the company's fortunes have grown significantly. Yahoo holds a market cap of $43 billion and has been one of the Internet's most trafficked sites for years, thanks to its assortment of portal services like email and news.
Although their fortunes have been in some decline as rival Google ascended in search engine and advertising technology, Yahoo still holds an enviable audience. Their recent debut of a new advertising platform may help them recover some of their lost luster.
Over the past week, Yahoo has seen a small resurgence in its stock price. It will be months before it is known how well the new ad system impacted their financials. Perhaps if they improve enough, the Yangs will be making another big gift to their alma mater.
Add to Del.icio.us | Digg | Furl
Bookmark IFN -
|Titan Quest Forum||Nintendo Wii||Graphics Forum|
|Halo 3 Forum||Mac Software|
is an iEntry, Inc. ® publication
All Rights Reserved.