Palm Beach Philanthropy: Paulson foundation gives $27 million to Israel's Hebrew University

When John Paulson makes it rain, it's never a trickle. More like a downpour.

Ask the folks at The Hebrew University in Givat Ram, Israel, which recently received $27 million from his Paulson Family Foundation.

The gift, announced on Sept. 28, will fund the construction of the fourth building within the Rachel and Selim Benin School of Computer Science and Engineering, expanding and upgrading the school’s learning spaces and research laboratories.

The Benin complex is located on the Edmond J. Safra Campus in Givat Ram.

“Israel’s quality higher education is largely responsible for the country’s technology boom and rapid economic development," said Paulson. "This gift will ensure that the Hebrew University has the resources to meet the growing demand for computer science and engineering education.”

The university's students and researchers are in high demand in the Israeli and international high-tech industry. The Benin school is the birthplace of many high-tech companies, including Mobileye and Lightricks.

The new building will feature state-of-the-art facilities including approximately 75,000 square feet of special laboratories, teaching rooms, office space, and computer stations in the labs and open areas.

“Over the last decade, we have increased threefold the number of students at the School of Computer Science and Engineering," said Professor Asher Cohen, president of the Hebrew University. "The current complex, which comprises three buildings, will be at full capacity by the end of 2024. Construction of this fourth building will enable us to meet the huge demand for the outstanding hi-tech personnel that the university produces. The Paulson Family Foundation’s generous donation will allow us to continue supporting the Israeli hi-tech industry in the best possible way.”

“We are immensely grateful to the Paulson Family Foundation for this generous donation," said Professor Sara Cohen, dean of the School of Computer Science and Engineering. "The new building will provide these sharpest of minds, who are on campus around the clock, with modern learning and research spaces to the highest international standards. It will also be the home of an AI (artificial intelligence) research center that we are in the process of establishing."

Joshua Rednik, CEO of the American Friends of the Hebrew University, described the gift as "transformational."

"(Paulson's) contribution to developing the next generation of computer scientists is a worthy endeavor that will advance the industry at a global level and especially within the State of Israel,” Rednik said.

The American Friends of the Hebrew University is the institution's U.S. fundraising arm. Its major event, The Scopus Gala, takes place annually in Palm Beach. The 2024 gala is scheduled for March 23 at The Breakers.

The Paulson Family Foundation was founded in 2009 by John Paulson, president of Paulson & Co., a global investment company. The foundation invests in education, science, health, culture and the arts.

The Hebrew University of Jerusalem teaches more than 23,000 students from 80 countries and produces nearly 40% of Israel’s civilian scientific research. Among its faculty and alumni are eight Nobel laureates.

This article originally appeared on Palm Beach Daily News: Palm Beacher John Paulson gives $27 million to Israel's Hebrew University