Mr. Johnson, who has set up large trust funds for his son, Theodore, and for his two grandchildren and a nephew, intends to divide the scholarships from his educational fund among six groups.
The largest share, $14.4 million, will go to Palm Beach Atlantic College, a Southern Baptist liberal arts institution in West Palm Beach.
Mr. Johnson, who was reared in a middle-class family, worked his way up at U.P.S. to vice president for industrial relations by the time he retired in 1952. His annual salary was $14,000 then, but he had bought as much of the company's stock as he could and had about $700,000 when he retired.
While enjoying his retirement, he watched the company grow -- and the value of his stock holdings with it.
"I was very lucky," said Mr. Johnson, whose own college education was helped by Federal money he received as a World War I veteran. Gratitude to His Company
The children of U.P.S. employees in Florida will have a $7.2 million program because Mr. Johnson wants to do something to show his gratitude to United Parcel, which he refers to as "we" or "us."
"It's such a major event for us," she said after hearing of the gift. "It's just amazing. I was between crying and yelling and jumping."
"I've been hard of hearing since the 1940's, when I got a hearing aid," Mr. Johnson said. "I wanted to do something to help the deaf."
"I wanted to do something with the money to help education," said Theodore R. Johnson, a former executive with the United Parcel Service. (Associated Press)
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