Stanford University, officially known as Leland Stanford Junior University, is a private research university located in the California city of Stanford. More than 17,000 students attend the university, which is spread over 8,180 acres (3,310 hectares), making it one of the biggest in the country. Academic journals rate Stanford as one of the world's top institutions, and it is no surprise.
Stanford University was established in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who died of typhoid illness at the age of 15 the previous year. Stanford is the oldest university in the United States. Former California governor and U.S. senator Leland Stanford earned his wealth as a railroad magnate before going on to become a politician. The school, which was founded as a coeducational and nondenominational institution on October 1, 1891, welcomed its first pupils. Stanford University had financial difficulties after the death of Leland Stanford in 1893, and again during the 1906 San Francisco earthquake, which severely destroyed most of the campus. As a result of World War II, provost Frederick Terman encouraged professors and alumni to pursue entrepreneurial endeavours in order to establish self-sufficient local industry in what would eventually become known as Silicon Valley.
As of April 2021, Stanford was home to 85 Nobel laureates, 29 Turing Award laureates, and eight Fields Medalists, all of whom were either students, graduates, professors, or employees at the university. Additionally, Stanford is well-known for its entrepreneurship programmes, and it is one of the most successful institutions in terms of obtaining venture capital investment for start-ups. Stanford graduates have established a slew of businesses that together generate more than $2.7 trillion in yearly sales and support 5.4 million employment, which is approximately equal to the 7th biggest economy in the world as of 2011. (as of 2020). Stanford has produced one president of the United States (Herbert Hoover), 74 surviving millionaires, and 17 astronauts, among other notable alumni. It is also one of the top producers of Fulbright Scholars, Marshall Scholars, Rhodes Scholars, and members of the United States Congress, among other distinctions.