Last week, i was reading up on two different scenarios that involved significant amounts of money. The first is the the agreement of Creflo Dollar ministries to buy the pastor a $65 million dollar jet, he already has a private jet-its just old. The second is the donation of $400 million to Havard University by John Paulson a hedge fund manager. Both decisions have caused controversy this week and for me, only one of the issues is relevant.
In my opinion, a pastor doesnt require a $65million jet. Not to do the work of God, there are private jet time shares if he is that pressed for time. Everyone knows if they need to travel at least 4 hours before the time. Net jets and co offer you jet rides without owning the jets and the associated costs. So Creflo and his army of scammers should please take a back seat, i find the whole thing very disturbing, people who are supposed to serve God and his people end up serving themselves. You can find the article here.
As for the endowment to Harvard, the guy must have his reasons. People want to argue that there are better causes that the money can go towards and i refute that by saying we need research, students need scholarships and professors need grants to be able to advance theories. I know i would give my undergraduate alma matter a boatload of money in endowment when i have it. I am praying that for my 50th birthday i can give them at least $1 million especially to the WISE (Women in science and Engineering) scholarship which i benefitted heavily from for 3 or so solid years. I know how much my scholarships meant to me and how grants helped my advisor when he was doing his own research.
Nigerian Universities generally lack endowments and thats one thing i am working on with a few others to drive change- i am not fully cognizant of the Nigerian Tertiary System as I am not a product of it, but i have had to train recent graduates and that came with its own challenges. Schools without endowments that rely on government funding only are not competitive from an academic standpoint and graduates they produce. Nigeria is a prime example of government funded public Universities with no endowments and a country lacking in global competitiveness.
Please share your thoughts on both scenarios. Winners Wednesday is still on win something this week