Comment by jubilanti
2 hours ago
For the median worker in a small town in Spain, an entire life savings of scrimping and saving could still be only a fraction of what it would take to build one lecture hall. Might not even pay for a single year of salaries, operations, and expenses.
Put a million Euros into an endowment, and at 5% annual returns, that's 50,000 Euros, enough to hire maybe one person to run and teach everything. Even if it was 10 million Euros, that's a lot less than you think if you want to start even a small school and not run out of money in a few years.
It depends on how rich the old lady was. In my hometown (Cáceres, also in Spain) an old rich lady left a whole palace to the city, which is now a museum, and a lot of money to start a cultural foundation.
the point of the story was that it was given to the council on condition they built a university with it ( she wasn't a fishermans wife ).
as in she was rich bro
edit> are you trolling me?