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The Philanthropy 50: Americans Who Gave the Most in 2008
Kenneth G. and Elaine A. Langone
Rank: 17
Total amount committed in 2008: $100-million
Location: New York, New York
Source of wealth: Retail
Donors' background: Mr. Langone co-founded the Home Depot retail chain, with headquarters in Atlanta, and founded Invemed Associates, an investment-banking firm in New York.
Mr. Langone, 73, and his wife, Elaine, pledged $100-million to New York University's medical center, which the university named for the Langones.
Mr. Langone has served as chairman of the medical center's Board of Trustees since 1999. The couple pledged $100-million to the center that year, but did so anonymously. It wasn't until they made last year's pledge that they agreed to let the university announce their names, after medical center officials convinced them that it would encourage other philanthropists to donate money to the center.
It worked. Last year the medical center raised a total of more than $506-million, including the Langones' pledge and $150-million from Helen L. Kimmel, No. 12 on The Chronicle's list of the most-generous individual donors in 2008.
Although Mr. Langone would not say how much of the two pledges has been paid, he said an "enormous" amount has been paid, and he and his wife plan to pay the remainder in the next several years. The couple said the medical center could use the money for any purpose.
"It's nice to have the money even when it's restricted, but in terms of priorities and getting things done, and really having an impact where it's needed, the less restrictions the better," said Mr. Langone.
Medical-center officials plan to use the money to build a new hospital and will direct some of it toward efforts to revitalize and upgrade the medical center's four-block campus on the east side of Manhattan.
Mr. Langone earned a master's degree in business administration in 1960 at the university's Leonard N. Stern School of Business, where he serves as a board member.
About These Data
The giving figures listed for each individual are based on donations announced to date by the donors or their beneficiaries. In cases of bequests, most of the figures are estimates because the wills have not been settled. For news of gift announcements in 2009, visit the America's Top Donors database.
If you know about a recent gift of $1-million or more that should be added to this directory, please send a message to gifts@philanthropy.com.