Yale University president Richard C. Levin announced Monday that alumnus Lei Zhang (MBA ’02) has pledged the largest gift ever to the Yale School of Management by a graduate of the school.
Zhang’s pledge, made less than 10 years after his graduation from Yale, also represents the largest gift to date from a young Yale University alumnus, the school has reported.
In announcing the gift, president Levin commented, “This truly extraordinary and auspicious gift reflects the deep commitment to Yale that Lei Zhang shares with so many fellow graduates of the School of Management. Lei’s generosity also represents a significant step toward the realization of SOM’s new campus.”
Zhang, the founder and managing partner of Hillhouse Capital Management, will give $8,888,888 to help build Yale SOM’s new campus. The amount of the gift, $8,888,888, is significant because throughout China, eight is considered lucky. The Chinese word for “eight” sounds similar to those for “wealth” and “fortune.”
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