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oney. Now, he’s trying to help his alma mater in a more innovative fashion.

Athletic director Mike Holder credited Pickens with the idea for Oklahoma State’s new fundraising plan to buy $10 million life insurance policies for 25 of its supporters, with the university as the beneficiary.

‘It is an easy way for qualified individuals to give, with the proceeds from life insurance policies secured with a pool of like-minded colleagues who share a common commitment to their institution,’ said Pickens, a billionaire who made his fortune in the oil business.

Holder said he believes the ‘Gift of a Lifetime’ program is the largest such use of life insurance ever by a college athletic department. The university will pay the insurance premiums for the selected donors, hoping eventually to reap the rewards.

The money from the policies will be used to endow athletic scholarships and pay for facilities and operations, Holder said.

‘Our initial discussions with Boone on this subject quickly shifted from a ‘what if?’ to a ‘why not?’ conversation,’ Holder said. ‘One thing led to another and we sought guidance of top insurance experts to research the idea.

‘This program is evidence of our loyal supporters’ willingness to embrace new ways to help their university by leaving a lasting legacy that will benefit OSU Cowboys and Cowgirls for generations to come.’