ETF Securities founder and chairman Graham Tuckwell has donated $50 million toward the education of Australian university students.

Tuckwell and his wife Louise made the donation to the Australian National University to fund undergraduate scholarships, The Australian reported Tuesday.

Dubbed the Tuckwell Scholarship program, it is the largest donation ever made to Australian university students, The Telegraph reports.

The Australian National University is Tuckwell’s alma mater.

The program will operate from 2014, paying $20,000 annually to 25 starting undergraduates each year for up to five years, according to The Australian story.

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