Pickens gives $100 million to OSU

STILLWATER, Okla., May 21 (UPI) -- Billionaire energy magnate and philanthropist T. Boone Pickens gave his alma mater Oklahoma State University $100 million Wednesday.

The university said the money will "dramatically transform" OSU academic advancements by providing money to endow major faculty chairs and professorships.

Pickens' gift is the largest single academic donation ever made to a university or college in Oklahoma. The gift will be eligible for a dollar-for-dollar match through the State of Oklahoma's endowed chair program.

"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," he added. "It launches us on our way to achieve big dreams."

Pickens, the founder and chairman of BP Capital Management, previously has donated about $300 million to the school.