Callaway stock pays dividends
for EmoryCallaway stock pays dividends
for EmoryConstructed in 1919 and placed on the National Register of Historic Places in 1975, the Physics Building recently underwent an extensive renovation. The work was possible because of a gift of Callaway Golf stock from the company's founder, Ely Callaway '40C, worth more than $5.5 million.
"Mr. Callaway is one of the most distinguished, successful, and generous alumni in the history of Emory College," says Vice President for Institutional Advancement William H. Fox '79PhD. "He is a philanthropist whose numerous gifts for the common good have been imaginative and generous."
When the Physics Building renovation was completed, the building was renamed The Loula Walker and Ely Reeves Callaway Sr. Memorial Center, in honor of Callaway's parents.
Callaway's generosity, however, reaches well beyond the Quadrangle. His company donates a percentage from the sale of its Bobby Jones commemorative golf clubs to Emory's Robert T. Jones Jr. Scholarship, and he has endowed a chair in cardiology and helped finance the restoration of the Kappa Alpha fraternity house. Apart from Emory, the Callaway Golf Foundation gives $1 million a year to support worthy causes in the community.
Callaway says the reason behind his giving is simple. "My father and mother taught me that it is better to give than to receive. And if you've got it and can be helpful, that's nice." Callaway does admit he gets considerable satisfaction out of seeing the good his gifts can do. "I think that it's a whole lot better to enjoy giving while you're alive."--J.D.T.