Topline
Billionaire Workday founder David Duffield announced a donation of $371.5 million to his alma mater Cornell University on Thursday, the largest donation in the school’s 150-year history, which is set to rename its College of Engineering after Duffield.
ITHACA, NEW YORK – NOVEMBER 3: People walk through the Cornell University campus on November 3, 2023 in Ithaca, New York. (Photo by Matt Burkhartt/Getty Images)
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Key Facts
Cornell’s official paper, the Cornell Crimson, called Duffield’s contribution a “pledge,” but did not state over how many years Cornell will receive the money.
Duffield’s gift will consist primarily of a $250 million “Duffield Legacy Fund,” which the school will use “to pursue strategic opportunities.”
Some $50 million will be dedicated to “key priorities related to educational excellence.”
The remainder of the gift will create the Duffield Launch Fund to address what the college called “immediate priorities,” including updating physical infrastructure and strengthening its research facilities.
The university will establish the Cornell David A. Duffield College of Engineering in Duffield’s honor.
The new gift brings Duffield’s total contributions to Cornell to $520 million, making him one of the largest university benefactors in the country.
Duffield is a Cornell alum twice over, having graduated with an undergraduate degree in electrical engineering in 1962 and an M.B.A. in 1964.
Crucial Quote
“I welcome the opportunity to help advance technological research, innovation and leadership at Cornell,” Duffield told the Cornell Crimson. “I’ve worked closely with many Cornellians over the years, and they consistently demonstrate exceptional leadership, creativity and problem-solving abilities. It’s a privilege to give back to my alma mater in ways that strengthen the university’s commitment to excellence.”
Forbes Valuation
Duffield ranked #91 on the 2025 Forbes 400 list of the richest Americans and has a current estimated net worth of $11 billion as of Thursday, by Forbes’ estimates. The majority of his net worth is tied up in shares of Workday, followed by cash and real estate holdings. Duffield also owns a private jet that Forbes values at around $30 million.
Key Background
Duffield cofounded two successful companies after age 40: HR and finance software firms PeopleSoft and Workday. In 2005, he sold PeopleSoft to Oracle for $10.7 billion in cash. He resigned as chairman of Workday in 2021, close to a decade after taking it public. Throughout his career, Duffield has spent more than $900 million supporting animal welfare, education and other causes, mostly via his family foundation and Maddie’s Fund, which he co-founded with his wife.