Fariborz Maseeh, found and principal of Picoso, an investment firm in Newport Beach, California, recently gave $24-million to MIT to accommodate more undergraduates. The gift came through Mr. Maseeh’s foundation. He offers his philosophy on giving.
“We’re looking for causes that will have a broad public benefit. We’re looking for transformational activities—that our gift actually does something that could not be accomplished. We are also looking for good management, because once we give, it’s really on the shoulder of the organization to carry out the gift itself.” – Fariborz Maseeh