T. Boone Pickens makes a donation to Oklahoma State of $165 M. Very generous.
Donation swells to $300 M. Woo-hoo!
School borrows against ‘gift’ to make improvements to stadiuum using ‘gift’ as collateral.
Oil takes a dump.
“Officials were told that actually, the entire $ 165 million donation, and the earnings, which once inflated the gift to over $300 million, had recently been eliminated by margin calls due to drastically falling oil prices.”
Looks like tuition might have to be raised. A bit.
It would appear that T. Boone needs a massive capital injection to maintain the lifestyle to which he is accustomed to living. Maybe he can borrow some ‘fluids’ from his geriatric pal Kerkorian Ross Icahn Buffett.