Founder of Business Wire Donates $10 Million to Israel’s University of Haifa

American businessman and philanthropist Lorry I. Lokey, the founder of San Francisco-headquartered media relations company Business Wire Inc., has made a $10 million donation to Israel’s University of Haifa, the university announced Wednesday. The donation will be used for the founding of a new campus consisting of at least four buildings at the port and downtown area of Haifa, a city in northern Israel, the university said in a statement.

For daily updates, subscribe to our newsletter by clicking here.

 

Mr. Lokey, formerly an editor for Washington D.C.-headquartered news agency United Press International Inc., founded Business Wire in 1961. The company was acquired by Warren Buffett's Berkshire Hathaway Inc. for an undisclosed sum in 2006. Mr. Lokey has made significant donations to research and academic institutions in the past including Haifa’s Technion - Israel Institute of Technology and the Weizmann Institute of Science in Rehovot, a town in central Israel.

Established in 1972, the University of Haifa is a public research university with over 18,000 enrolled students. In January, a joint venture by the University of Haifa and the city’s Rambam Hospital to build a 20-story medical research tower received an $18 million grant from The Leona M. and Harry B. Helmsley Charitable Trust.