Harvard University has received U.S. $350 million from the estate of a late Asian philanthropist--the largest ever gift or donation it has received in its 378-year history.

The donation was made to the School of Public Health by the Morningside Foundation established by the family of T.H. Chan, a real estate developer in Hong Kong who died in 1986.

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Reports said that the donation is unrestricted and will cover a whole range of health-related issues, as well as research and training. The donation will also cover increased financial aid for students, new classrooms, and seed money for research.

Dean Julio Frenk said the Morningside gift will support research and training in many fields including pandemics ranging from malaria and Ebola, obesity, cancer, gun pollution, poverty, humanitarian crises, and environmental health risks, as well as war and disasters.

The Foundation was put up in 1996 by Drs. Ronnie and Gerald Chan to support higher studies in North America and Asia. Their father founded one of Hong Kong's largest real estate companies.

Chan's sons started the Morningside Group after their father died, which makes private equity and business ventures in biotech and other science and technology-based companies in the U.S. and China.

The siblings ranked 17th on Forbes 2014 list of Hong Kong's richest people with assets reaching U.S. $2.95 billion.

Dr. Gerald Chan said his years at Harvard School of Public Health were "transformative" as he learned that science can be put into action to improve public health.

The business mogul reportedly encouraged and wanted his sons to study and conduct research to improve people's lives.

The school, which has a population of 400 faculty and 1,000 students, will be renamed Harvard T.H. Chan School of Public Health in memory of the tycoon and his generosity.

Tagsdonation, Harvard University, Harvard, TH Chan, School of Public Health, Hong Kong, real estate, morningside, harvard donation, tycoon, asian philanthropist