The University of Texas's Cockrell School of Engineering has received $35-million to endow a scholarship fund from the estate of a former student, writes the Austin Business Journal.
T.W. "Tom" Whaley, who died last year, earned his Ph.D. in electrical engineering from the university in 1968. He subsequently worked in aircraft construction for General Dynamics and built a fortune through investments, oil and gas royalties, and management of a large family farm.
The endowment will fund 34 annual scholarships for promising engineering students. Mr. Whaley also left the university hundreds of sets of mineral rights in 10 states, a portfolio expected to generate significant yearly income.