Pickens' donation contains a catch
Recipients must grow $100 million in gifts

Boone Pickens

Through his T. Boone Pickens Foundation established last year, Pickens donated $50 million each to the M.D. Anderson Cancer Center in Houston and the University of Texas Southwestern Medical Center in Dallas with an unusual condition.

The philanthropist and Holdenville native stipulated that each institution grow the donation into $500 million within 25 years or give all the money, less the original $50 million, to Oklahoma State University. The money would be designated for student scholarships at OSU.

Pickens is an OSU alumnus, and early last year made an historic $165 million donation to the university's athletic program.

"We are tremendously excited about what this generous gift will mean for our long-term future, and we feel sure we can achieve the 25-year half-billion goal,” said Dr. Kern Wildenthal, president of UT Southwestern.

As for OSU, spokesman Gary Shutt said the university does not anticipate being placed in the uncomfortable position of rooting against the fundraising efforts of the Texas institutions.

"We have no doubt that the University of Texas will raise the additional money and the gift will benefit the lives of many,” Shutt said. "We are extremely appreciative of Mr. Pickens' passion for OSU and his impact on our academics and athletics, so if UT were to send money our way, we would put it to good use for our students.”