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He willed his endowments to Amir, his eldest son.
Universities like Dartmouth rely on endowments to help pay for financial aid, academics and operations.
Cornell, Colgate and Texas A&M each entrusted part of their endowments to Galleon.
But they are already using the income from these endowments to help cover their costs.
Many universities rely on wealthy alumni who create endowments to cover tuition, room and board.
Few evangelical churches have endowments to compare with the older mainline Protestant congregations.
Such institutions often have large enough endowments to afford financial aid awards that do not require students to borrow.
His gifts included endowments to Emory University, which in 1994 renamed its business school in his honour.
While the big museums can weather financial setbacks, most smaller institutions lack endowments to fall back on.
Even state universities are going into fund-raising overdrive and trying to increase endowments to catch up.
The wealthiest colleges can tap their endowments to give substantial financial aid to families earning $180,000 or more.
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CEO of Professional Science Editing for Scientists @ prosciediting.com