Clearly he is not Objectivist. But he is a welcome step in the moral direction.
The program was started by the Branch Banking and Trust Company (BB&T), a North Carolina-based financial services company which currently boasts $184.7 billion in assets. The ideas behind the program were laid out in 2012 in an essay written by former BB&T CEO John Allison.
“About twelve years ago we re-examined our charitable giving and realized that our contributions to universities were not typically being used in our shareholders’ best interest,” Allison wrote in the essay, which was published online by The John William Pope Center for Higher Education Policy. “At the same time, we were studying the question of why the United States had moved from the land of ‘life, liberty, and the pursuit of happiness’ to the ‘redistributive state.’ We became convinced that the reason for this transformation was that the Left had taken over the universities and educated future leaders, including teachers, in statist/collectivist ideas.”