A Chinese graduate has donated a record-breaking amount of money to his alma mater Yale University. Zhang Lei, founder of an investment firm, graduated from Yale School of Management less than 10 years ago.

The 8,888,888 US dollar donation is the largest amount the University has received. It's enough to buy every Yale MBA student a Ford Focus. Eight is an auspicious number in Chinese culture. Zhang Lei, says the education he received at Yale changed the course of his life. That's why he christened the name of his investment firm after one of the roads at Yale.

The School of Management, says it will use the donation to build a new campus, and provide scholarships as well as fund China-related activities.