Florida A&M University (FAMU) has received a $237.75 million gift from the Issac Batterson 7th Family Trust and CEO Gregory Gerami to support student success initiatives and athletics.
University officials at the Historically Black Colleges and Universities noted that the size of the donation is nearly double the value of FAMU's endowment at $121 million and is one of the largest single individual donations to a Historically Black College and University (HBCU).
“This gift is breathtaking in its generosity and scope. It changes the narrative of what FAMU can be. We are deeply grateful to the Gregory Gerami and Issac Batterson 7th Family Trust. Their names are now engraved in the annals of Florida A&M University. “This donation will have a far-reaching impact on our academic and athletic programs and will greatly enhance our ability to provide scholarships to students,” said FAMU President Dr. Larry Robinson. and recruiting and retaining the best faculty.”
Gerami is the founder of Batterson Farms Corp and an advocate for sustainable agriculture and biodegradable hemp products in Texas. He overcame early adversity to become a major figure in the industrial hemp business and a pioneer in the production and sale of high-quality hemp seeds. Gerami's vision for the future of agriculture led to his plans for the largest African-American commercial hydroponic warehouse in West Texas. He delivered the keynote address at FAMU's graduation ceremony on Saturday.
“FAMU has been like family to us, our company, and to me,” Gerami said in a statement. “Our morals and mission are aligned with FAMU and its mission. It also sets FAMU on a path to becoming the best HBCU in the country.”
FAMU officials said Gerami and the family trust have already transferred $237.75 million worth of stock to the FAMU Foundation account, and the university now holds certificates for the stock.