Boone Pickens‘ big donation to Oklahoma State University has turned into quite the money maker for the Cowboys, even if it hasn’t made any football or basketball champs yet.
Darren Rovell of CNBC crunches the numbers of the oil man’s gift, in which he gave his alma mater $165 million to help his school further excel on the court & on the field. Although the moolah hasn’t brought any Big 12 titles yet, it has brought something just as important - even more dough.
Rovell explains that one condition of Pickens’ original donation was that the money would be put back into Boone’s BP Capital investment firm. And it turns out such a choice brought about some great dividends:
Pickens told me that the $165 million is up 120 percent since his donation. That means that his original donation is now worth $363 million. Add to that the $28.6 million that was donated last month by Boone’s friends Amy and Malone Mitchell to the athletics department and we’re up to almost $400 million from two families.
But will these millions help the Cowboys move into the upper echelon of the Big 12 alongside such long-time powerhouses Oklahoma, Texas or Nebraska? Only time will tell - and time tells us that no, it probably won’t.
At least Okie State has gotten their money’s worth by employing some very entertaining coaches: