CHAPEL HILL, N.C. (AP) - Billionaire philanthropist C.D. Spangler Jr., who led North Carolina's university system for more than a decade, has died. He was 86.
The University of North Carolina System announced that Spangler died on Sunday.
Spangler became president of the system in 1986 and led it for 11 years. The Charlotte native attended the University of North Carolina and later Harvard Business School.
One of the wealthiest men in North Carolina, Spangler is estimated to have a fortune of approximately $4 billion through family companies and his leadership of National Gypsum, according to Forbes magazine.
The university system said that Spangler sought to keep tuition low throughout the system and championed its role as an economic driver for the state.
Governor Roy Cooper released the following statement today on the passing of former UNC President C.D. Spangler:
"Dick Spangler was a champion for public education as a member of his local school board, chairman of the State Board of Education and president of our great university system. We will miss his courage, innovation and inspiration."
