About 70 million will be used to expand Harvard’s student travel and study abroad programs and 30 million will go to arts education.

The gift will provide annual stipends for students going aboard and the Office of International Programs, among other programs at Harvard.

“This is a magnificent act of generosity from an extraordinary friend of Harvard,” said Harvard University president Drew Faust.

Rockefeller, 92, the last surviving grandchild of billionaire oil tycoon John D Rockefeller, is listed by Forbes as one of the 150 wealthiest Americans, with an estimated fortune of 2.7 billion.

He graduated in 1936 from Harvard College, the school’s undergraduate arm. “It was because of Harvard’s language requirement that I spent the summer of 1933 in Germany and saw firsthand the ominous rise of fascism. And it was at Harvard that I first studied art history,” Rockefeller said.

Rockefeller had previously given 40 million dollars in gifts to Harvard, including 25 million to create the David Rockefeller Center for Latin American Studies.