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Pickens Attaches Unusual Strings to Two $50 Million Charitable Gifts

Paul Caron

PickensOil tycoon and corporate raider T. Boone Pickens has made two $50 million gifts to two Texas medical institutions (University of Texas Southwestern Medical Center (Dallas) and M.D. Anderson Cancer Center (Houston)), with an usual twist:  the money cannot be spent by the institutions until the corpus grows to $500 million.  If the corpus does not grow to $500 million within 25 years, the institutions can keep the original $25 million, but all of the investment earnings will go to Oklahoma State University.  Other press coverage:

About the Author

Paul Caron Avatar
Paul Caron
Paul Caron was named Duane and Kelly Roberts Dean of Pepperdine University School of Law on June 1, 2017. Dean Caron joined the Pepperdine faculty in 2013 after serving as the Dorothy and Leonard Straus Distinguished Visiting Professor of Law in the spring semesters of 2010 through 2013. He served as Associate Dean for Research and Faculty Development at Pepperdine in 2015-2017. Before coming to Pepperdine, he was Associate Dean of Faculty and Charles Hartsock Professor of Law at the University of Cincinnati College of Law.
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