NY investor gives $13 million to Macalester Collegeby Art Hughes, Minnesota Public Radio
St. Paul, Minn. — A New York investor is giving $13 million to St. Paul's Macalester College.
Shelby Davis, founder of the money management firm Davis Advisors, is expanding scholarship support for the college's international students.
The students receiving the scholarships come from a small network of upper-grade high schools around the world called Global World Colleges.
Davis said he hopes his support boosts understanding among different cultures.
"These students, when they graduate from Macalester, will fan out (and) wherever they go they will be the best they can be," Davis said. "They're motivated, driven students, and as I say, they have winning habits."
Davis said he chose Macalester because the school has demonstrated success with international education. The new gift will double the amount of need-based aid for each student.