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Clemson University received a record $60 million gift from South Carolina real estate developer W.O. “Billy” Powers. Powers attended Clemson in the 1950s, but did not graduate from the school. However, he did receive an honorary doctor of humanities degree from the university in 2004.

The gift will be used mostly to endow scholarships “for 100 years” according to business school dean Wendy York. The business school will now be named the Wilbur O. and Ann Powers College of Business and becomes Clemson’s first named school.

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