Florida HBCU backs away from dubious $237M donation.. donor's business seems too small for such a large donation
TALLAHASSEE, Florida — Florida A&M University is putting an announced $237 million donation from a Texas hemp farming executive “on hold,” as the media and school leaders raise questions about the value and source of the money.
President Larry Robinson announced the decision at an emergency meeting Thursday of FAMU’s fundraising foundation. Board members expressed grave reservations about the donation, which drew national attention as one of the largest ever for one of the country's historically Black colleges and universities.
The gift, which according to an agreement released by the school came in the form of millions of shares of stock, has already been transferred to FAMU, school officials said, so it’s unclear exactly how the university will move forward.
“With regards to the gift and the processing of it and so forth, in terms of future processing, we’ve already decided it’s in our best interest to put that on hold,” Robinson said during the meeting.
The alleged windfall donation to FAMU came from Batterson Farms Corporation's Gregory Gerami and the Isaac Batterson Family 7th Trust and would’ve almost tripled the school’s endowment, helping students and faculty for generations. But after the announcement was made — with major fanfare during a Saturday commencement ceremony — skepticism quickly quelled the celebration.
For one, Batterson Farms Corporation appears to be a relatively small outfit based in Texas selling hydroponic hemp farm products, leading some to question how its stocks could be worth millions. The doubts have been heightened by reports about Gerami’s past dealings, including a $95 million donation to Coastal Carolina University in 2020 that was terminated by school officials only weeks after it was publicly announced.
https://www.msn.com/en-us/money/news/florida-hbcu-backs-away-from-dubious-237m-donation/ar-BB1m83VY?
= new reply since forum marked as read
As excitement ran into online disbelief related to this past weekend's record $237 million donation to Florida A&M University, donor and CEO Gregory Gerami says he doesn't understand the misgivings about the gift.
“The stocks have been held by the university for over a month now, so I don't know where the confusion or the skepticism would be since it's already in a financial account with the university,” Gerami said.
The 30-year-old hemp farmer, investor and entrepreneur drew the national spotlight with his gift, which appears to be both the largest in history at FAMU and any of the other 100-plus historically Black colleges and universities, or HBCUs, in the country.
But little is known about Gerami, his business or the Issac Batterson 7th Family Trust that put up the money. They have a remarkably small online footprint, and news that his $95 million "transformational" planned gift to Coastal Carolina University fell through last year has further fueled alumni concerns.
https://www.tallahassee.com/story/news/local/famu-news/2024/05/07/ceo-gregory-gerami-addresses-skepticism-about-record-florida-am-donation/73587506007/
Has to be the notoriety/name recognition thing. Perhaps a Tik-Toc influencer? 
“But fundraisers were set up in recent years on GoFundMe to help with medical expenses for his adopted mother and funeral expenses for his adopted brother”
wow...they got punked.
