A prominent life marketing entrepreneur has withdrawn a pledge to donate $16 million to a Florida university because of the bad economy.
A spokesperson for Florida Atlantic University in Boca Raton acknowledged that Barry Kaye told the school he could no longer afford to make good on the pledge.
The spokeswoman declined to comment further. "Florida Atlantic University respects the confidentiality of our donors and the generous gifts they have bestowed upon this institution," she said in a statement. "FAU does not publicly divulge the specifics of our gift agreements or discuss the details associated with the individuals who make these gifts."
