Julian Robertson, a billionaire hedge fund manager and the benefactor of a well-known scholarship program at Duke University and UNC, died on Tuesday.
A spokesperson for Robertson told national media outlets the North Carolina native died in his New York home from “cardiac complications.” He was 90 years old.
Initially from Salisbury, N.C., Robertson graduated from UNC in 1955 and made waves internationally as the chairman and chief executive officer of the hedge fund Tiger Management. After co-founding the company in 1980, he oversaw its growth to handle billions of dollars and mentor a network of analysts and portfolio managers.
On a more local level, however, Robertson served as the benefactor of the Robertson Scholarship Program — an initiative designed to help students take classes at both the Chapel Hill and Durham campuses with the goal of developing “young leaders.” Robertson and his wife, Josie, founded the program in 2000 with a $24 million donation to cover costs for 18 UNC students and 18 Duke students across their four years of college.
Robertson Scholars use the spring semester of their sophomore year to live on the sister campus and take at least five classes at the opposite institution during their collegiate career. The goal is for the scholarship recipients to engage and adapt to a new environment, while also building resources and connections with wider groups of their peers. As part of the program, Robertson Scholars also go through immersive summer programming, which involves students living in different areas of the world to foster community, spark exploration and focus their interests for careers after graduation.
In a message posted on the Robertson Scholarship website, current Executive Director Andrew Lakis said the namesake’s legacy is “one of profound impact.” He wrote that the scholarship’s charge will be to continue reaching the high standard of leadership and values set by Robertson.
“To say the loss is profound, is an understatement,” said Lakis. “To many in our community, Mr. Robertson was not only a generous champion furthering their education and leadership development, but also a friend and mentor.”
Julian Robertson. (Photo via the Robertson Scholarship Program.)
Duke University President Vincent E. Price shared a message to Chapelboro following Robertson’s death.
“All of us who knew Julian Robertson,” said Price, “are forever grateful for his extraordinary vision and steadfast commitment to his home state, a remarkable legacy that will live on at Duke and in North Carolina for decades to come. His generous support of the Robertson Scholars leadership program has changed the lives of hundreds of Duke students over the years and helped forge a uniquely vital and enduring educational partnership with our colleagues and friends at UNC.”
“Julian Robertson was a Carolina legend and business pioneer who revolutionized Wall Street,” added UNC Chancellor Kevin Guskiewicz in a statement. “Through his visionary philanthropy, Julian created an unprecedented scholarship that has allowed students to attend UNC-Chapel Hill and Duke and experience the best of two world-class research universities. We are grateful that his legacy will endure for decades to come through the Robertson Scholars Leadership Program.”
In addition to his philanthropy and work with the two universities, Robertson was a proprietor of several worldwide golf resorts, a vineyard owner and a wine producer. According to Forbes, Robertson’s net worth was approximately $4.8 billion as of April this year.
Photo via the Robertson Scholarship Program.
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