In a gesture of support for “the educational institution that is closest to my heart.” Max Webb of Beverly Hills has purchased a $1 million life insurance policy and named the American Friends of the Tel Aviv University as the owner and beneficiary.
Webb, a prominent builder who has long been an active leader in the Jewish religious and organizational affairs of Greater Los Angeles, made the benefaction known in a letter sent to Victor M. Carter, president of the American Friends of Tel Aviv University and chairman of the university’s international Board of Governors.
“For a long time you have known,” Webb wrote, “of my concern for the welfare of Israel and of my firm belief that education is as necessary to her well-being as are the courage and integrity of her people.
“Tel Aviv University is the educational institution that is closest to my heart, I recognize and admire the tremendous contributions which that great university has already made to the academic, cultural and social growth of Israel… You therefore will understand, Victor, why my wife, Sala, and I have made this decision. It is our way of helping to make certain that great minds will continue to serve Tel Aviv University, and that through them the students of that university will be better equipped to provide the ethical scholarly and scientific growth which will insure Israel’s rightful place in a free but competitive world.”
WILL ESTABLISH A CHAIR
Carter explained that, ultimately, the $1 million will be used to establish the “Max and Sala Webb Distinguished Professorship” at Tel Aviv University. He said the university will name outstanding scholars in a broad variety of disciplines, and that the term of each professorship will not exceed two years.
Boris Young, national executive vice-president of the American Friends of the University, commenting on the Webb gift, declared: “This is a ‘double first,’ since it is the first Insurance benefaction of this size to be received by the university and it is the first planning for an endowed Chair which will be free to operate in any band of the entire spectrum of human knowledge.”
Carter also pointed out that Webb has long been a supporter of Tel Aviv University, and that as recently as last September he and Mrs. Webb contributed $100,000 to the university to establish the Heroes Memorial Scholarship Fund as a means of perpetuating the names of students and faculty members of the Tel Aviv University who died in defense of Israel:
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