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Florida A&M pauses purported $237.75 million donation after questions about validity

·1 min

Florida A&M University is putting a purported $237.75 million donation ‘on pause’ after concerns were raised about the actual value of the stock gift and the donor’s previous donations. FAMU President Larry Robinson announced the decision after media reports and school leaders questioned the legitimacy of the gift. The donation was initially hailed as one of the largest ever personal donations to a historically Black college or university. The skepticism arose from the donor’s small company and doubts about the worth of the private shares. FAMU board members have called for an independent investigation into the transaction.