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January 05, 2016

Obituary: Ted Stanley, $650 Million Mental-Health Donor

Ted Stanley, a Connecticut businessman who gave $650 million to biomedical research center the Broad Institute 18 months ago to study mental illness, died Monday at age 85, the Associated Press and The Boston Globe write. The July 2014 donation is reputedly the largest ever for psychiatric research, a cause Mr. Stanley and his late wife took up after their son was diagnosed with and successfully treated for bipolar disorder.

Mr. Stanley made his fortune as the founder of MBI, a Norwalk, Conn., company that makes and markets collectibles. He donated a total of $825 million to the Broad Institute, the Cambridge, Mass., research facility endowed in 2008 by California philanthropists Eli and Edythe Broad.

Read a Chronicle of Philanthropy article about Ted Stanley's $650 million gift and mental-health philanthropy.