From $274,000 to $3,500,000.
In 1989, Harold Harold F. Silver, an inventor and industrialist, donated $274,000 to Brigham Young University for university scholarships. The fund has been since used as a tool to teach students the principles of investing.
31 years later, the fund continues to grow at a compound rate of 8.8%.
Harold F. Silver
Harold F. Silver was a noted inventor and industrialist. One of his many inventions was the continuous mining machine, which revolutionized coal mining. Because of that, he was cited by Time-Life Books as one of the 250 greatest inventors in history. But his impact also extended beyond industry. A dedicated philanthropist, Silver gave generously to educational institutions, including the endowment of scholarships at Brigham Young University.
In 1989, Harold seeded BYU’s Silver Fund with a donation of $274,000 “for the instruction of investment and business analysis.” Since that time, hundreds of students have had the opportunity to apply investment skills learned in the finance curriculum to grow the fund to its present size.