Bose Founder Gives Away The Company – To MIT

Here’s an unexpected development. Dr. Amar Bose (founder of… you know, Bose) has made quite a gift to his alma mater, MIT — in fact, he’s essentially given away the company. The gift comprises a majority of the shares of the company, albeit in non-voting form, so MIT won’t be running the company. Instead, they’ll be raking in the dividends, likely to fund a few chairs, scholarships, and other recurring costs.

Whatever you think about Bose’s sound, I think you have to agree this is a pretty cool move.