FAMU Suspends Processing of Controversial $237 Million Donation from Anonymous Hemp Farming Executive

Following growing skepticism surrounding the source of a $237 million donation made to Florida A&M University (FAMU), the historic Black institution has chosen to suspend any further processing of the gift. The donor, Gregory Gerami, a 30-year-old Texan hemp farming executive, previously attempted to present a significant gift to Coastal Carolina University, though this was ultimately unsuccessful. The gift, valued at $237,750,000, was initially revealed at FAMU’s graduation ceremony, but some board members expressed concern regarding the valuation’s origin, with Rebel Cole, a professor of finance at Florida Atlantic University, stating that “where does this valuation come from?”. The gift itself is comprised of a vast number of shares from Batterson Farms Corporation, a small enterprise specializing in hydroponic hemp farming products. The share price is currently uncertain, as it may be worth anywhere between $500 million and nothing. The anonymous donor identified in the agreement as The Isaac Batterson Family 7th Trust is also a source of controversy, with the document suggesting that the benefactor wishes to remain anonymous until Gerami consents to disclosing their identity. This individual will also receive a commemorative plaque upon completion of the transaction. FAMU President Larry Robinson confirmed the decision to suspend further processing of the gift during a meeting discussing the matter. The original agreement lists a minimum intrinsic stock value of $239 million, with an additional $61 million donated over the course of ten years, bringing the overall value of the gift to at least $300 million. However, given the uncertainty surrounding the stock’s worth, it remains unclear whether the gift will prove to be beneficial for FAMU in the long run. The Washington Examiner contacted Batterson Farms Corporation for comment, but no response was received.