Boone Pickens, OSU alumnus, announced his academic donation of $100 million in a ceremony on Library Lawn. Pickens told the audience to “be patient” because there would be more to come
Texas oil and gas executive T. Boone Pickens celebrated his birthday by presenting OSU with the largest academic gift ever made to an Oklahoma university or college.
The OSU alumnus, who turned 80 on May 22, formally confirmed a donation of $100 million for OSU academics at a ceremony held on the Library Lawn.
The lawn was a sea of orange as spectators looked on, and about half a dozen of them held up large homemade signs bearing the words “OSU loves Boone” and “Thank you Boone Pickens.” More than 3,000 came to the event, according to the OSU Communications office.
With the gift, Pickens will finance and endow more than 150 new academic chairs, OSU President Burns Hargis told the crowd.
“This gift is going to give us the chance to change forever this university,” Hargis said.
Gifts to the endowed chair program are matched dollar-for-dollar through state law, which potentially raises the amount OSU will receive to $200 million.
Pickens’ 2006 donation of $165 million to the OSU athletics program was the largest single gift to a university’s athletic program in the nation. Combined with this latest history-making donation and other pledges and gifts, he has given about $400 million to the university.
“Burns is a very persuasive guy,” Pickens said in his announcement speech. “I didn’t plan on doing this, but I know all of you remember when we made the gift three years ago that I said I’d be back. This gives me great pleasure, you all know that.
“It’s not only a new look here, it’s a new feel.”
Pickens added that he will continue to be a presence at OSU.
“Be patient, I’m not through,” he told those in attendance. “There will be more.”
Andrea Reger, an education and college student development graduate student, said she is excited that Pickens is supporting both athletics and academics.
“I’m not an athlete here, I’m glad to see he’s also supporting the hard work we do in the classroom, as well,” Reger said. “I enjoy the football games, I definitely appreciate all he’s done there.
“I just feel a little warmer on the inside knowing that he’s also supporting me in the classroom.”
Hargis told reporters the money will be allocated to different areas as needed, saying improvement in some areas of expertise at the university is “essential,” such as biofuel, sciences and engineering, while other areas pose as “good opportunities.”
He said he sees part of the funds being put to use almost immediately.
“I would expect the money to be put to use beginning in the fall, but probably it will be the spring of ‘09 before we really get it effectively deployed,” he said.
Oklahoma Gov. Brad Henry said he thinks the donation will have a tremendous impact and influence on future donations from others.
“When you realize what kind of a transformation can occur with this kind of a gift to OSU, it’s exciting, and other people want to be a part of that,” he said. “Once those donations get rolling, it just feeds on itself, I guarantee you that.”
Former Congressman and OSU alumnus Wes Watkins said the donation will begin to have positive academic consequences immediately.
“Even more top scientists, more top researchers, more top faculty will be coming in,” he said.
Henry, who signed the legislation to allow Hargis to take over as president earlier than the law had previously allowed, said in his ceremony speech that exciting things are happening at OSU.
“I said Burns and Ann would provide some of the greatest leadership that this university has ever seen and they would do great things for Oklahoma State,” Henry said. “Well, I think $100 million plus the state’s match of 100, qualifies Burns for great things.
“This is truly a historic day, not just for the Oklahoma State family but for the state of Oklahoma.”
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