Tycoon Gives Falwell School $70 Million
A retired life insurance tycoon has given Liberty University $70 million, erasing a decade of debt and freeing its founder, the Rev. Jerry Falwell, to resume his role as an outspoken emissary for conservative Christians.
“The university is back to where it was, and I’m back on the road again,” Falwell said Monday.
Millionaire Art Williams settled the university’s debt in September but asked that his identity as the benefactor be kept secret. He agreed to announce the gift now after Falwell convinced him that the publicity would provide momentum for a separate campaign to raise $100 million.
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