It is the largest academic gift in Oklahoma history, university officials said.
“Boone's back, and Boone's back with money,” Pickens said before a crowd gathered at OSU. “Be patient. I'm not through.”
Pickens, an OSU alum, gave $165 million to OSU athletics in 2005.
“I am privileged to give even more to my alma mater,” said Pickens, founder and chairman of BP Capital Management, who previously has donated about $300 million to OSU. “It gives me great pleasure to make a gift, that when matched by the state, will transform academics at OSU.”
Today's gift will provide funds to endow major faculty chairs and professorships.
The gift will be eligible for a dollar-for-dollar match through the state’s endowed chair program, doubling the gift’s value to $200 million. The gift will more than double the current endowed faculty chairs at OSU.
“This most recent gift from Boone is indescribable in terms of what it means in our committed pursuit to advance and elevate OSU’s academics to a new level of excellence in the world,” said OSU President Burns Hargis.
“Without question, Boone’s gift will enable us to retain and attract extraordinary faculty members better ensuring OSU students will be inspired by exceptional and accomplished professors and researchers. It launches us on our way to achieve big dreams.”
Pickens said his goal always has been to make OSU competitive in all areas.
“I believe my donations to athletics and now this gift to academics will do just that. OSU has an excellent faculty and I am pleased that this gift will create higher expectations and promote greater achievement in learning and research,” Pickens said.
“This gift is due, in large part, to the vision and leadership of Burns Hargis,” Pickens said. “He is absolutely the right person at the right time to be OSU president, and I believe he will guide OSU to levels of success we have never seen before.”
The $100 million gift is one of the largest ever to a United States university and is nearly double the largest non-bequest donation to a U.S. university so far in 2008. The previous high non-bequest gift this year was $55 million to the University of Texas.
Picken’s gift will endow more than 150 chair and professorship positions in academic programs identified as priorities by the university, officials said. The minimum amount to establish an endowed chair is $500,000, while a professorship is a minimum of $250,000. OSU has 101 fully funded and matched chairs and professorships.
So his gift serves as an incentive of others to donate, Pickens agreed if other donors match a chair or professorship, they may name the chair and determine the academic program to be supported.
Pickens’s $165 million gift to OSU in 2006 was the nation’s largest single gift to a university athletics program. With this latest academic gift of $100 million, Pickens, who graduated with a geology degree from OSU in 1951, has donated approximately $400 million to OSU through gifts, pledges and waived fees, university officials said.
The school of geology is named after Pickens, chairman of BP Capital Management, which operates energy-focused commodity and equity funds.
About OSU
Oklahoma State University is a five-campus, public land-grant educational system.
OSU has more than 32,000 students across its system and nearly 21,000 on its Stillwater campus.
Established in 1890, the Stillwater campus is the home of the OSU System.
OSU has students from all 50 states and more than 110 nations, and has more than 200,000 alumni throughout the world.
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Gordon, Oklahoma State University would differ with your proposed decline in donations. Following BP's donation of $165M, donations for athletics have trended upwards. As an alumnus, I assure you it is an exciting time to be donating to my alma mater. I can now imagine the dollars I donate will support students working in the laboratories of greater scientists that they did a decade ago.
Pickens's donation is impressive, but detrimental in the long run. Why? Because 95 percent of the alumni are not in a position to donate such an amount and OSU can't live on what the 5 percent give. In otherwords, an alum might have had a $5,000 check ready to mail, but when the TBP announcement was made opted to save the money for his own kids. The irony is that those many, many "paltry" donations is what keeps the place running, long term. I doubt that Pickens, or any other wealthy alumni, will give that kind of money again. So, now maybe the controversy surrounding Murray Hall will end by renaming it Pickens Hall.
Many more people have donated more money to OSU and OU to their net worth. Pickens donations aren't about helping the school as it is for him to be in the spotlight. He could do just as well giving the money behind the scenes. I remeber a widow donating over 1 million to a unviversity anf that was all she had. She could have had a press conference but stayed anonymous. While Boones money will help tremendously it helps his ego more. Boone is a power base person, they feed on the oohs and aahs. He is becoming the jerry jones of OSU on the sidelines, I guess he may be calling the plays. This can become dangerous to OSU's success in sports. Boone donate your money but let the school and the sports program be bigger than you.
Oh my.... If The Gaylords were to donate 400 million to OU they would be loved by all those rednecks you see running around in their hoopdy 1987 buicks that have their OU flags hanging out their window and their 2000 national champion bumper sticker on the back. Get real guys. If this were a donation to OU this column would be dang near blank.
I'm sure Boone's money will help the students of OSU, perhaps more than it's helped the football team. But at the same time, it's becoming cartoonish and caricatured. You can be a Rhodes Scholar from OSU, but one fat-pocketed alumni on a spending spree will always be the legacy of that education. No thanks.
Jack you need to go to his website and see all the other charities he is involved in. Why do people have so much trouble with Boone giving money to OSU?
This is hilarious,no one has mentioned the Daily OUklahoman has elimated its competition in OKC, or that Cheasapeake(oil/gas co) just recently gave OU money in the last month or so, get the big picture people. Oopps.. names like Outlaw and Rufus are no doubt connected to OU.
Marilyn, Your last three words (if spent wisely) said it all. There is little of that in this state. For starters, look at how many school districts there are in this state. There is way too much administrative cost as a result. Start fixing those problems before trying to get more money.
Education is in a state of chaos in this country. I applaud the donation and would like to see more of it made to the lower school levels where the kids are young and in need of more teachers and better equipment and facilities. Just think what a $100 million could do for the OKC school system if spent wisely.
(Sorry about the Typo) Only libs and a few warped OU groupies would resent BP's gift to OSU. (I imagine most OU grads are glad for us and wish some OU fat cats would step up and follow suit!) BP is a great American and a great OSU alum. He is giving to the school that helped shape his destiny. Isn't it amazing how many libs are jealous of the rich.
Only libs and a few warped OU groupies would resent BP's gift to OSU. (I imagine most OU grads are glad for us and wish soe OU fat cats would follow suit!) BP is a great American and a great OSU alum. He is giving to the school that helped shape his destiny. Isn't it amazing how many libs are jealous of the rich.
boone makes his money off the backs of the poor with high oil prices, making record profits. you know that 100 million is not his current money, they is above and beyond new earnings for him. so he takes from the poor, gives to the rich to become richer. amazing. how about helping poor people out. homeless, hungry. oh, wait. it's their own fault they are hungry and homeless.
Boone does not make his money when oil prices go up. He makes his money on commodities that move both up and down. He makes his money on guessing correctly which way they will move.
Boone makes his money from $120+ oil. Like the old saying, One man's loss is another man's gain. It ultimately comes out of my pocket and yours. But, it's nice for him to give it back.
Outlaw, you must be very frustrated. How could Mr. Pickens dare donate any of his money without checking with you first? How could he be wise enough to know which charities are worthy and which ones aren't? It must be frustrating for you when anyone does anything without your approval. You should provide contact information in order to prevent this kind of mistake in the future. I am sure that Mr. Pickens, and others, would find your guidance invaluable.
As a OU Student...I find it very amuzing to see how many people think that all the negativ comments are coming from OU fans. Outlaw said he wasn't, and who cares if he is. We still get a ton of money from several different donors- the only difference being that it doesn't come from one source, like Boone Pickens. Congrats, aggies. Spend it wisely. But both sides need to stop acting like idiots.
To clear it up, Boone Pickens donated $165 Million to Athletics, which has since GROWN to nearly $300 Million because it was put into an investment fund. That's intelligence, and anyone else who donates money to any university, business, or charity should do the same. As for him ripping us off with gas prices, he has nothing to do with it. That's all politics and the Middle East. As for him getting a tax write off, you bet! Why WOULDN'T anyone want a tax write off for that? Those are sheer financial principles that any money-savy or person with financial intelligence would do. And if Pickens wasn't the one involved in making so much money in the Oil and Gas industry, there would only be someone else to take his place. As an OSU grad, I'm thankful...not only for the sake of OSU, but for the sake of the State itself. It will bring others to the State for education...be it at OSU, OU, or both. Which leads to more jobs and a better economy for our state. Those are reasons which makes us have a city (OKC) which happens to be ranked #1 in the nation when it comes to being recession proof. Thank you, have a great evening.
Boone isn't done giving, so I would stop short of saying "he's donated way more to football than academics". He is going to leave a huge sum in his will for OSU, and we dont' know where that money will go, but I am sure it won't all be for football.
One question: If you ask the average joe on the street if they would rather buy a biology textbook, or a football ticket? what would the answer be?
I think Boone is just putting most of his money where most of us would if we were posed with that question. We'd buy the ticket.
Thanks to T.Boone Pickens for the generous donation to my university. It makes me proud that someone cares enough to give until it hurts. Who knows what benefits will be reaped by this donation? There are many important studies going on at OSU, in the agricultural department, in the geology department, in the engineering department, and in many, many other areas. By having excellent athletics, you are able to shine light on your academic achievements as well. They go hand in hand with today's modern university environment. I really like seeing student-athletes, who excel in their academic program, and still are successful on the field of play. These are very well-rounded individuals. Both OU and OSU have produced, and are still producing many.
Instead of arguing about it, I decided to see what Mr. Pickens supports outside of OSU. An extensive list of donations to various charitiable organizations can be found at this URL if anyone is interested in the facts. http://www.tboonepickensfoundation.org/news.asp
HAHAHAHA. Ya, you got me. Hope that makes you sleep better. I am sure you are proud of yourself. Like I said, you win. Have fun with that thought. You, Outlaw, will always win.
Last time Jacob, I don't have a problem with giving to charities, never said T-bone didn't give to them either. Just said that giving $265 million to OSU athletics was not money well spent when there are so many issues facing this nation. BTW, I owned you about two hours ago, I'm glad you figured THAT part out. So long sucker.
But you should do some research before you say that someone doesn't give to charities. I bet you may be surprised, although you would find a way to complain about that as well, you educated man, you!
Ouch Outlaw, you win. You can't argue with someone who clearly thinks he is better then everyone else. Have fun in your own little happy world, since I am not educated. You are right on what thing though, I have no idea what you do. Just like you have no idea what I do. Let's leave it at that and say that you win, ok? Good for you, now hurry and help the homeless. I clearly don't do that, and you do!
You have no idea what I do Jacob; you continue to provide endless amusement to those more educated, namely me. BTW, I didn't think you had the mental capacity to understand my point, it's OK though..I wasn't expecting much from you anyways.
Ok then, Outlaw, I won't bring it up. Wait though, you continue to bring it up. So, I can't but you can? Wow, double standard for sure. Anyways, you never answered me during all of your endless complaining. Why did you bring up football, and now charities, but then get mad when other people tell you that you did? I would hate being around you, complaining all the time while you yourself do little anyway.
I'm glad to see you figured out that you were dead wrong earlier Cherylyn, knowing is half the battle. You think my moniker is stupid? I think your name is....unique. See, I can be nice to people who aren't nice to me, I'll write off your anger as coming from me proving you wrong.
Let me correct you again Jacob. My problem is not with the ACADEMIC donations, my problem is that the majority of a $400 M donation is for ATHLETICS. If he gave the whole thing to academics you wouldn't even see me on here. Let's not get into the whole, I give you money then you turn around and give it back to me crap...that's more than a little fishy.
Outlaw, if there are other things besides football, like you say, why did you bring up football in your first post? Hmmmm...you seem to really be proving your points. Geez.
ou doomsday clock (date when ou fans--namely those who never went to either ou or OSU--find out they're not the only game in town) ...tic...tic...tic...tic...tic
At least I am not hiding behind a stupid moniker. Outlaw? What is that? Oh yeah, a person who breaks the law. I think the actual breakdown was something like this $70 mil to Geology, $235 mil to athletics (initial $65 or 70 followed by the one all OU people are green over, $165 mil. Then today $100 mil. It still makes no difference to OSU alumni and fans, Boone is giving back to his alma mater. Thank you T BOONE PICKENS!!!
I guess I'm barking up the wrong cowpatty, you guys and gals just don't understand where I'm coming from and based on Jim's comments you can't see beyond your obvious jealousy of OU. There are more important things in life than football, things that need to be funded. Bill Gates could have bought a great football team for any university he wanted to but he decided to use his forture to eradicate AIDS from the face of the earth. Maybe T-Bone will figure out someday that he could have spent his money in a way that helped the entire world instead of a bunch of hillbillies from the sticks of Oklahoma. Have a good day everyone!!
I don't think your a bad person and I am not a big Boone fan. But, for once, Boone is giving OUR school funding for academics and your still complaining. One thing about it is, while Boone is a money-loving man, he does and has give to charities. You can look it up. So, while I am not a big fan, I am excited that he is giving to what truly matters at a university, academics. You and I clearly disagree, but your comments about football and negative attitude are borderline pathetic coming from an OSU graduate. That is the truth. But, keep making comments like that that make me look like the bad guy and make you look like the good guy. It is really working.
Outlaw , thanks for taking this discussion full-circle. You are talking about soliciting for non-athletic donations. And to think that this article is informing us about a $100MM NON-athletic donation.
Maybe Boone did make his money off of us in the oil business, but it is nice to see him giving back to others. You an agree or disagree that the money went to the right place, but I know that every Cowboy fan has to step back and be proud that we are reaping the benefits, in both Education and Athletics. Even though the prices are different each time they give, OU fans are just as proud when E.L. Gaylord and Family pony up money to support their University. Every Oklahoma should be glad that it is in Oklahoma instead of some other state, like Texas. He lives there and yet he still feels loyalty to OSU, and Oklahoma as a state. Whether you were proud of the athletic donation as a Cowboy, every Cowboy should be grateful for the Academic donation. Thanks, boone and we will never stop appreciating whatever you are willing to give!
Outlaw, One of the great things about America (at least so far) is that you can spend your money (after taxes) however you like. You may be judged by others who are jealous of your accomplishments, but you can do it regardless. The other thing is that you don't really know (nor do I) what other charities T. Boone chooses to fund. I would imagine the list is pretty long and they probably don't all have to do with football.
Outlaw, Rufus and all you other jealous ou pond scum...do you hear footsteps? We're gettin' close...and in a few more years the noise will be deafening. All Boone is doing is leveling the playing field that ou has had the advantage on for years because of its proximity to OKC and the Gaylord money.
Your time is coming, boys...tic-tok, tic-toc...
Thanks Jacob, I'll see you at homecoming this year and you can tell me how bad a person I am and how great a person T-bone is....I'll be the one soliciting donations for non athletic causes, maybe T-bone can throw me a couple of million before he goes and sits in his throne room at his stadium.
The jealousy and hate spewing from OU fans (and any other schools fans) is amusing. Keep it up Rufus, Outlaw and others. Really, what matters is OSU now has 200 million dollars to help fund academic programs. Hope you guys can handle that.
Thanks for clearing up the hybrid name thing Cherylyn, that was really interesting...BTW, did you ever figure out that math problem or do you need some help?
No way you went to OSU and all you can talk about on this article about academics is 6-6 football. Please. If so, you are a terrible OSU fan and we don't need you. Rufus, glad you showed up to make educated comments. Where did you graduate from, again? Oh, ok...nowhere? Thought so.
Outlaw go back to your rock and get back under it. As for my name, I was named after my grandmothers. If you are so worried about the ills of the world, why don't you go make a couple of trillion dollars and give it to whatever you want. By the way T. Boone Pickens donates to all sorts of charities not just to OSU. So stick a sock in it!!!!!
I find it interesting that a number of you folks have wrongly linked me to being an OU fan. My objection to T. Bone's donations is that he's spending a load of cash on football instead of curing the worlds ills. I'm not for OU and by extension against OSU, hardly. My entire family are OSU grads, including myself. I just tend to question $265 million dollar donations that go to athletic departments when there are so many other things in the world that need the money like cancer research. I'm sure watching OSU struggle through another 6-6 season will make you feel better though and forget that there are many things in life more important than athletics.
Hey outlaw, I'll bet that you haven't given a dime to the homeless, veterans (which I am one) or charity, of which Mr. Boone has given millions. Do you even have a degree from OU or are you just one of those sick OU fans with a trailer park personality.
Mr. Picken's, if your reading this, I want to thank you on behalf of all the OSU alumni, students, and faculty for your wonderful donations. You could have chosen to help the homeless, or veterans with disabilities, or even unwed illiterate teenage mothers with cancer....but you chose to use your money to try and buy a nationally competitive football team for a mediocre university. God bless you sir, I sure hope they didn't break the mold when you were born. ROFLMAO!
Outlaw: I worked in Tulsa with two former OU football players who very nice fellows. I believe they would have been happy for OSU receiving all this money from Boone and other Alumni. Of course, I had to take it on the chin when the discussion came to football. Some how, you do not remind me these gentlemen.
I'm a house divided in myself being that my first degree was from OSU and my second was from OU and Im working on #3 at U.Missouri distance Phd program. People from my generation remember what T-Boone did to Conoco in the corporate raider era. The result of all the stock wrangling cause Conoco to be bought up by Dupont. Dupont did not want the gas business, they needed a supply of crude to make their plastics. I guess in Pickens' defense if he hadn't made a strafing run on Conoco, Carl Icon would have taken his chance at it. What he did is almost described to the T in the Danny Devito movie, "Other People's Money".
Outlaw: Funny how good things that happen at O-State bring out the idiots. Animal Science, Agronomy, Vet-medicine and all the other academic venues at O-State will get a boost. The world will reap the benefits of the instruction and research. Orange is a rather classy color. It shines brighter now because of the generosity of Boone Pickens
Rufus: Funny how good things that happen at O-State bring out the idiots. Animal Science, Agronomy, Vet-medicine and all the other academic venues at O-State will get a boost. The world will reap the benefits of the instruction and research. Orange is a rather classy color. It shines brighter now because of the generosity of Boone Pickens.
Lost in all of the idiotic discussion is the reference in the story to Burns Hargis. David Boren has been huge in raising funds at OU; it appears Hargis may well be his equal at OSU.
Mr. Pickens, if you are reading this (and I sort of hope you're not) I want to thank you for your very geneous gift to OSU. As an OSU alumni and the parent of a current student, I hope the money goes to good use and that it does improve OSU's academic programs and standings in the national rankings. I also hope it serves to create an even larger pool of technical talent to foster technolgy growth for Oklahoma.
Outlaw, you're an absolute MORON. In spite of my distain for OU, I don't believe the University of Oklahoma would have let you in to their institution. You're too inept to understand (because you've never recorded a credit hour at OU or anywhere), but academics require alot of money to succeed and grow, just as successful athletic programs do. Boone Pickins says there is more to come. Good for him. Now, go back to your lawn mowing service and SHUT UP!
Keep on with the insults hillbilly's, it's really showing that T. Bone can't buy class. And yeah, I know I'm being a hypocrite, I'm yanking your chain and you half wits can't help but respond...keep it comming!
Let me break it down to you in simpleton terms Cherylyn, $165 Million + $100 Million = $265 Million. Since I know that $265 Million is $135 Million less than $400 Million I wonder where that extra $135 Million was for??? Mainly athletics brainiac...err I mean Cherylyn. And isn't that they perfect name for an OSU fan, Cherylyn. Your mama couldn't decide if you were a Cheryl or a Lyn so she combined them, very astute and cosmopolitan.
Oh outlaw, you must have been picked on in high school. It's ok buddy, no one really cares what an ill-informed high school graduate (maybe) thinks about OSU academic donations. Which you clearly have no clue about, after seeing your previous comments about football on this article. Is that all you care about? I am sure you are well educated! Moron. You say we are jealous? Then why are you throwing out the insults? You may want to look in the mirror first. Thanks Boone, this is great day to be a Cowboy!
From an immediate financial standpoint, this appears to be a good thing for OSU. However, I agree with Bob, even if he wasn't serious. Boone Pickens has bought that university and all of the accolades he's received. Should we note that this is a man who is getting rich by ripping off America right now? I also get a kick out of the huge media circus that occurs everytime Boone makes a donation. Let's make a public spectacle of Boone getting his butt kissed by OSU. This guy has an ego the size of Texas. Maybe he should go contribute to their school. Boone is a pompous, arrogant blowhard who thinks he's royalty because OSU allows him to be. What an embarrassment. It must be pretty miserable to worry about angering Boone Pickens for fear that he'll pull his "gifts". It's not really a gift when strings are attached. OSU has become Boone's whore.
Agree we need to feed the cows so you will have a job!
Read if you can!! --------------- Pickens’s $165 million gift to OSU in 2006 was the nation’s largest single gift to a university athletics program. With this latest academic gift of $100 million, Pickens, who graduated with a geology degree from OSU in 1951, has donated approximately $400 million to OSU through gifts, pledges and waived fees, university officials said.
Cherylyn says "Well all told brainiac(Outlaw), he has given $400 million to OSU. $165 million was to athletics. That leaves about $235 million that have gone to academics. Like the school of Geology, etc. You OU people are soo quick to point out the donation, I wonder why that is? Jealous or Nervous?"
You sure about that sweetheart? You might check your cowboy math because T-bone's given about $265 million to athletics. If X = $265 Million and X + Y = $400 Million, then solve for Y. Y = academics donations BTW.
Easy there cowgirls, I'm just pissing on your boots for fun and like a bunch of Pavlov dog's (or is it T-bone dogs?) you bust out the OU insults. Your jealousy of the Sooner is quite evident based on your canned responses and it gives me a good laugh since I have nothing to do with OU. Now go shovel some cow crap and get those McDonalds hamburgers to be fed and have a nice day.
Mike, your comment is hilarious and I agree 100%! It made me laugh even more because the other day I was driving by a McD's and they had a HUGE sign out front that said "Wi-Fi now available!!!"
Outlaw, I didn't know they allowed internet access at McDonalds? By the way, it's his money. He can do with it whatever he chooses. By the way, I must say the nickname "outlaw" is a perfect one for an OU fan of your stature. Maybe you should stick to commenting on OU's articles instead of posting ones of obvious jealousy on OSU's. Now then, the fry baskets are beeping. It's time for you to get back to work.
Well all told brainiac(Outlaw), he has given $400 million to OSU. $165 million was to athletics. That leaves about $235 million that have gone to academics. Like the school of Geology, etc. You OU people are soo quick to point out the donation, I wonder why that is? Jealous or Nervous?
You're absolutely right Cherylyn...so why did T. Bone give three times as much to the athletic program as he did to the academic program? I guess unlike you and I he thinks that OSU athletics needs more work than OSU academics...and he's right, the football team sucks.
College is about academics Outlaw not football. That is the problem in this state. Too many put football first and education second. When you blow out your knees and the hips go bad you have to have something to fall back on. Lord knows they spend all their money as fast as they make it...forget about investing!
I hope every old Aggie and new Cowboy can somehow show their appreciation to Mr. Pickens, and I hope we never, never take his funding for granted and begin to slack on doing our part even if ours IS a small donation. We have always been an outstanding university, and now we have become a very fortunate one, as well. Thank you, Boone Pickens.
Thank you, Mr. Pickens! The State of Oklahoma appreciates your investement in our education system. And, we in the OSU family appreciate you even more.
Now if OSU could just get a football team that can play better than 6-6 ball every year they might get some national recognition. The Dallas Cowboys only need about $120 million for a pro team, how come $600 million can't buy a good college team??
John, from what I understand the state has to match it Dollar for Dollar. 2 Hundred Million Dollars folks. Amazing. Forget OSU, this great for the entire state.
Philip, Oklahoma's state colleges remain a huge bargain. Compare tuition at flagship universities like Michigan, Virginia, and California -- in-state tuition is a multiple of Oklahoma's. You can't compete to retain top faculty (or attract top students) with revenue that low. Oklahoma's state colleges are, if anything, remarkably underpriced.
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One question: If you ask the average joe on the street if they would rather buy a biology textbook, or a football ticket? what would the answer be?
I think Boone is just putting most of his money where most of us would if we were posed with that question. We'd buy the ticket.
Your time is coming, boys...tic-tok, tic-toc...
It's ALL good.
Read if you can!! --------------- Pickens’s $165 million gift to OSU in 2006 was the nation’s largest single gift to a university athletics program. With this latest academic gift of $100 million, Pickens, who graduated with a geology degree from OSU in 1951, has donated approximately $400 million to OSU through gifts, pledges and waived fees, university officials said.
You sure about that sweetheart? You might check your cowboy math because T-bone's given about $265 million to athletics. If X = $265 Million and X + Y = $400 Million, then solve for Y. Y = academics donations BTW.
To those doing so, don't you realize what a small, bitter person you make yourself look like?
Thanks Boone, we appreciate you and your gifts.