Now that he's over 60, mutual fund manager, Shelby M.C. Davis says "It's time to give back."
And he is giving back in a big way.
Mr. Davis is making a gift of $45 million to the United World College of the American West, located east of Santa Fe, N.M., through the S&G Foundation, which he founded with his wife, Gale.
Mr. Davis is the chief executive officer of Davis Select Advisors LLC, Santa Fe, a company founded by his father, Shelby Cullom Davis.
The United World College movement was founded in the early 1960s by educational philosopher Kurt Hahn, whose aim was to promote world peace by bringing together the world's most promising 16- to 19-year-olds. The program offers intensive academic, service and cross-cultural learning during a scholar's last two years before entering college.
Students earn the international baccalaureate diploma, a pre-university degree.
The bulk of the charitable donation -- $42 million -- will go toward an annual, nationwide competition among American 10th and 11th graders for 100 scholarships to the United World College and nine others.
The other $3 million will be used to launch a fund-raising drive to restore historic Montezuma Castle, the campus' central building. The castle was designed in the 1880s by Burnham and Root and was built and operated by the Santa Fe Railroad as a resort hotel.