[GeoStL] News related to Garmin
- From: Glenn <GLNash@xxxxxxxxxx>
- To: SLAGA <geocaching@xxxxxxxxxxxxx>
- Date: Wed, 29 Jun 2005 19:14:09 -0500
-
A few things I didn't know about Garmin, including that its founder is
severely wealthy, went to UT (Tennessee-Knoxville), and immigrated from
Taiwan. (Which leads me to wonder whether his ancestors are native
Taiwanese or the Chinese who took over the place fifty-odd years
ago. Not that it matters all that much, in the grand
scheme of things.)
>From NashvillePost.com, by the way.
Billionaire revealed as UT's top donor
By Drew Ruble
University of Tennessee officials have revealed that alumnus Dr. Min H.
Kao is the man who gave the school $12.5 million for the construction of
a new a $37.5 million engineering building on the UT campus.
Together with a separate $5 million matching gift to support the
department's endowment, Kao's $17.5 million gift is the largest in the
school's history.
Kao is the co-founder of Garmin Ltd., a designer and builder of
navigation and communication equipment such as global positioning
systems. The company went public in 2000 and employs 2,600 people around
the world.
Forbes magazine recently listed Kao as the 507th wealthiest person in
the world with an estimated worth of $1.3 billion.
Earlier this year the Tennessee General Assembly approved Gov. Phil
Bredesen's recommendation to allocate $25 million for a new College of
Engineering building at the University of Tennessee.
Bredesen prioritized funding for that project because it furthers his
goal of fostering greater public-private partnerships for the
construction of higher education buildings in the state.
A Taiwanese native who received both his masters and doctorate degrees
in electrical engineering from UT in the 1970s, Kao co-founded
Kansas-based Garmin in 1989. The company has operations in Arizona,
Kansas, Oregon, England and Taiwan.
Both the engineering department and the new building will be named in
Kao's honor.
---------------------
Glenn
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