David Rockefeller has pledged $75-million to the New York City university founded by his grandfather, and the foundation of the late shipping billionaire Stavros Niarchos is matching the gift, according to Forbes. Rockefeller University will use the funds to add several buildings and two acres of property to its 14-acre campus on Manhattan's East Side.
Mr. Rockefeller, 99, is the only living grandson of oil tycoon John D. Rockefeller, who founded the university in 1901. He and Mr. Niarchos were friends and frequent business associates. David Rockefeller's donation will be paid in full upon his death, while the Stavros Niarchos Foundation gift will be dispensed in $7.5-million increments over 10 years.