Briefs: eBay founder gives $100M for microfinance

November 4, 2005

The founder of eBay said Friday he will donate $100 million to Tufts University to be invested in microfinance.

The donation by Pierre Omidyar, who founded the online auction house a decade ago, is the single-biggest cash donation to Tufts to date.

The president of the university, Lawrence Bacow, stated Omidyar wants his alma mater to help "generate capital to empower people to lift themselves out of poverty throughout the world, while at the same time generating investment returns to support the university's key priorities."

Microfinance allows some of the world's poorest people to borrow small sums of cash to invest in their businesses.

Copyright 2005 by United Press International

Explore further: Google donates $2 million to support Wikipedia

Related Stories

Google donates $2 million to support Wikipedia

February 17, 2010

(AP) -- Google Inc., the Internet's most profitable company, is giving $2 million to support Wikipedia, a volunteer-driven reference tool that has emerged as one of the Web's most-read sites.

Recommended for you

Chemists solve major piece of cellular mystery

August 27, 2015

Not just anything is allowed to enter the nucleus, the heart of eukaryotic cells where, among other things, genetic information is stored. A double membrane, called the nuclear envelope, serves as a wall, protecting the contents ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.