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Harvard's latest alumni gift -- $400m from billionaire hedge-funder John Paulson -- tops the $350m they received just last year from Gerald Chan.

"John Paulson, the billionaire hedge-fund manager who made money hand-over-fist by betting against the subprime mortgage market before the housing bust, has decided to donate $400 million to Harvard University, where he attended business school. It is the largest gift in the institution's history, beating out last year's $350 million contribution by Gerald Chan, a Hong Kong developer and Harvard alum. According to the Wall Street Journal, the 'money will be used to endow the School of Engineering and Applied Sciences, which will be renamed after Mr. Paulson.'" -- Jordan Weissmann, Slate.com

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