
Why our UCSD $100 million benefactor lives in South Dakota
Today there’s a good news story on the front page of the San Diego U-T about Denny Sanford, a philanthropist who just gave $100 MILLION to UCSD for medical research. A genuinely generous man with a vacation home in La Jolla, his avowed goal is to give away his billion+ dollar fortune during his lifetime. http://www.utsandiego.com/news/2013/nov/03/ucsd-dennysanford-stemcells/
Such generosity is not at all uncommon among the truly rich, though many wait until they die to dispense such gifts. Frankly I think Sanford has the right idea — why not get the heartfelt thanks for such generosity while still alive, and live to see the good that such donations do? He’s EARNED it!
But there’s one aspect of the story that most will probably overlook. Sanford was born and raised in high tax Minnesota. Many years ago after some financial success he decided to buy a small bank business in South Dakota and to move to Sioux Falls. He took that 80 employee bank company and expanded it into the credit card business — two companies that today employ over 3,000… Read More