Michael Moritz's £75m donation to Oxford University

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A Welsh billionaire who made his fortune investing in some of the internet's biggest names has donated £75m to Oxford University to help students from poorer backgrounds.

The record-breaking donation, from Cardiff-born Michael Moritz, means Oxford can abolish an increase in tuition fees for students from low-income families.

BBC Wales education correspondent Nicola Smith reports.

Profile: Michael Moritz