Word: krupps
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Dates: during 1970-1979
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...intrigued to read the announcement of the University's $2 million deal with the Krupp Foundation of Germany. Often colleges are given an opportunity to demonstrate the nature and extent of their commitment to civilized society. Harvard University has done so brilliantly...
...merely a sign of goodwill and a gesture of friendship on the Germans' part. They [the Krupp Foundation] gave the money to Harvard because they felt that here is where they could get the highest return; where the most would be made of it," Goldman said...
Although $2-million gifts are not considered large in American foundation terms, Goldman said the sum represents nearly one third of Krupp's disbursements over a two-year period. The Krupp company has sales totaling about $3 billion annually and the foundation itself is second in size only to The Volkswagon Foundation in West Germany...
...Krupp reportedly established the Foundation to prevent control of the Krupp company from passing into the hands of his only son, who Krupp considered irresponsible...
...Krupp died several months after setting up the foundation, and control passed into the hands of Beitz, Krupp's personal friend and diplomatic agent since...