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Oil tycoon who helped UNC dies
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Published: May 21, 2008
CHAPEL HILL - CHAPEL HILL - Walter R. Davis, a farmer's son from North Carolina turned Texas oil tycoon and philanthropist who became a major donor to UNC Chapel Hill, has died. He was 88.
Davis died Monday night after a period of declining health, said his son-in-law, Bob Eubanks. A funeral is scheduled for Friday at the Chapel of the Cross in Chapel Hill.
Davis' survivors include his wife, Joanne.
UNC Chancellor James Moeser praised Davis for his devotion to the school.
"He was among Carolina's strongest advocates, and we'll be forever grateful for his dedicated service," Moeser said.
A native of Pasquotank County in Eastern North Carolina, Davis made his fortune in the Texas oil industry before returning to his home state.
Davis served on the board of trustees at the UNC-CH for 16 years and as board chairman for two. He fought state legislators for the $32 million generated from the sale of university utilities, money that helped build the school's high-rise Walter R. Davis Library.
His donations helped pay for construction of the Smith Center, the school's basketball arena, and a scholarship program that aided students who agreed to teach in low-income areas of his native northeastern North Carolina.
In 1999, when the student-body president, Nic Heinke, asked his fellow members of the board of trustee for donations to assist victims of Hurricane Floyd, he collected $400 until Davis offered a check for $100,000.
The Raleigh News & Observer reported yesterday that Davis asked that the money be used to help displaced students at hard-hit East Carolina University in Greenville.
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