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FAMU Gets Record $237M Graduation Gift from Hemp Farmer CEO

May 8, 2024, 03:01 AM

Florida A&M University (FAMU) has received a historic $237 million donation from Gregory Gerami, CEO of Batterson Farms and a hemp farmer, through the Issac Batterson 7th Family Trust. Announced as a graduation surprise, this donation, one of the largest ever to a historically black college or university (HBCU), is intended to support student success initiatives and athletics. The gift nearly doubles FAMU's current endowment and has been described as transformational for the institution. Despite the significant contribution, there has been some skepticism regarding the donation, which Gerami addressed by confirming that the stocks have been held by the university for over a month.