Investor Donates $9M to Harvard, MIT for Researching Cannabis
Marijuana Stocks, Finance, & InvestingUncategorized May 8, 2019 MJ Shareholders
A successful New York-based entrepreneur, who made a small fortune investing in Canada’s booming legal marijuana industry, is making what is believed to be the largest private donation to date in support of independent scientific research on cannabis.
Bob Broderick is giving $9 million to Harvard and the Massachusetts Institute of Technology (MIT), both in Cambridge, Massachusetts, to study cannabis and its effects on the brain, according to a reportpublished in The Harvard Gazette on April 30, 2019. An alumnus of both universities, Broderick said he wanted to help fill the research gap resulting from marijuana’s federal status as a Schedule I drug, which has continued to stifle cannabis research.
“I saw an opportunity to take a kind of a leadership position in getting these two great cultural institutions involved in the discussion of cannabis in the country,” Broderick, founder of Uji Capital LLC,a New York City-based global equity firm, told WBUR-FM, a public radio station in Boston, Massachusetts.
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