Atherton resident and philanthropist Lorry Lokey will lend his name to the new home of the Stanford Daily, the student newspaper.
The Daily reports that the new building, to be named the Lorry Lokey Stanford Daily Building, will be located next to the Old Union in the center of campus and will include workspaces and offices behind the typical Stanford facade of stucco walls and wood-framed windows.
The two-story, tile-roof building will cover 5,400 square feet; the construction budget is $3.75 million. Stanford’s board of trustees told the Daily that it expects the building to be completed by October.
An article in the Daily notes that Mr. Lokey was the editor of the paper during his tenure at Stanford and has subsequently supported the paper through journalism grants and scholarships.
Mr. Lokey started Business Wire, a press release wire service company, in 1961, after years of working as the Western news bureau supervisor for General Electric. He sold Business Wire to Berkshire Hathaway in 2006.
The Chronicle of Philanthropy reports that he gave more than $90 million to educational institutions in 2007 alone.
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