Alumnus Gives $128 Million To High School

senior millionairess
CBS
It's not everyday that a 75-year-old gives away $128 million. But then again, Barbara Dodd Anderson is no ordinary senior citizen.

She decided to give part of her fortune to her alma mater, the George School, a century old Quaker boarding school, nestled outside of Philadelphia.

"It's going to make that school very productive," Anderson says.

Just where did all that money come from? That's an interesting story, too. Her father, David Dodd, taught and mentored Warren Buffett at Columbia University after Harvard turned him down. Eventually, he partnered with the financial genius, investing in his first business -- Berkshire Hathaway -- a company now worth $250 billion.

Dodd's father used his new fortune to send his daughter, Barbara, to the exclusive boarding school when his wife became ill. The faculty and staff made a lasting impression. Anderson hopes her gift will keep giving.

"They will do exactly what they should do -- which is to make a difference," she says.

"It's impossible to say how grateful we are and overwhelmed and proud," says Nancy Stearmer is head of the school with a $77 million endowment. The average student pays a hefty $40,000 a year for four years of high school.

"The assumption is they're well off, but Steamer says not all of them are.

"We have students whose families earn $10,000 or $20,000 a year," she says.

"It brings a lot of people opportunities, not just people who can afford to go here, but people who deserve to go here," says student Logan Davis.

Anderson's friends says despite her millions, she leads a simple life filled with fond memories, one she hopes to hold onto before Alzheimer's get's the best of her.

If only every millionaire held their high school alma mater in this regard.

"I can't solve every problem," she says. "I just help where I can."