$151 million: Stanford University gets record-setting gift

$151 million: Stanford University gets record-setting gift
In this Feb. 15, 2012 file photo, a Stanford University student walks in front of Hoover Tower on the Stanford University campus in Palo Alto, Calif. (AP Photo/Paul Sakuma)

PALO ALTO, Calif. (AP) — Stanford University says a $151 million donation is the largest gift the school has ever received from a single living person.

The university announced the donation from Silicon Valley real estate developer John Arrillaga Sr. on Monday.

The Oakland Tribune says it's not the first philanthropic record made by Arrillaga. The 1960 graduate gave the university $100 million in 2006 — then the largest donation of its kind. His name graces buildings across campus and his family's endowed scholarships support 50 students a year.

Officials say the newest donation was not designated for a single purpose but will be used for "a variety of university projects."