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MIT receives $90M gift from alum's estate

MIT has received a bequest expected to total $90 million from the estate of alumnus Richard "Paul" Dickson, who died in August 2002 at the age of 84.

Born in Boston, Dickson graduated from MIT in 1940 with a degree in management. He joined the American Can Company, retiring to Arizona after 36 years of service. Dickson's father, Earle, is known for his invention of the Band-Aid in 1920 while employed by Johnson & Johnson.

The bequest is the culmination of decades of generosity by Dickson to the Institute, including nearly $2 million in support of the Sloan School of Management.

"We are profoundly grateful to Mr. Dickson for his deep loyalty to MIT and for his extraordinary generosity in creating this magnificent bequest," President Charles M. Vest said. "His generosity was matched by his farsighted understanding that gifts of this nature are critical for MIT to remain a strong and vibrant institution in years to come."

A version of this article appeared in MIT Tech Talk on March 10, 2004.

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