Redstone donates to alma maters

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Billionaire Sumner Redstone has donated $1 million to his alma mater, Harvard University, and $500,000 to the Boston Latin School, one of the oldest schools in the nation, which he also attended.

The contribution to Harvard will be used, in part, to finance scholarships for 20 ‘Redstone Scholars’ to attend Harvard College next year, according to a three-page press release. The Boston Latin School donation will go toward the school’s efforts to build a learning lab.

Redstone is coming off a blockbuster financial year after his stock came roaring back after taking a pummeling during the recession when he got caught in a credit jam. Redstone collected $33 million in 2009 in total compensation from his roles as chairman of his two media companies -- Viacom Inc. and CBS Corp., according to regulatory filings this month. Redstone graduated from Harvard University in 1944 and Harvard Law School in 1947.

He will hit another lofty number next month when he turns 87.

-- Meg James