Billionaires With Big Ideas Are Privatizing American Science


March 17, 2014

An article from Sunday's New York Times reports on the increasing trend in American science -- long a source of national power and pride -- being funded by private enterprise. “In Washington, budget cuts have left the nation’s research complex reeling,” the paper writes. “Yet from Silicon Valley to Wall Street, science philanthropy is hot, as many of the richest Americans seek to reinvent themselves as patrons of social progress through science research.” The article references Jonathan D. Gray, Penn alumnus and the head of global real estate at the Blackstone Group, who in 2012 gave $25 million to create the Basser Research Center for BRCA at Penn's Abramson Cancer Center after his sister-in-law died of ovarian cancer at age 44.

New York Times article