Gordon McKay
Gordon McKay (1821–1903) was an
American businessman and philanthropist. An important figure in the mechanization of the
shoe industry, his most lucrative idea was to
lease his "McKay machines" rather than selling them outright, collecting a small royalty on each pair of footwear made with his equipment. He then secured his market position by, helping create the
United Shoe Machinery Corporation cartel with his potential competitors. Upon his death, after providing for his family and
mistresses, he left the bulk of his estate to
Harvard University as an endowment to support capable professors to train future
engineers. The gift grew to over half a billion dollars and was indirectly responsible for Harvard's inability to merge with
MIT in the early 20th century.
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