Poet laureate the post became a regular institution. Dryden's successor Shadwell originated annual birthday and New Year odes. The poet laureate became responsible for writing and presenting official verses to commemorate both personal occasions, such as the monarch's birthday or royal births and marriages, and public occasions, such as coronations and military victories. His activity in this respect varied according to circumstances, and the custom ceased to be obligatory after Pye's death. The office fell into some contempt before Robert Southey, but took on a new lustre from his personal distinction and that of successors Wordsworth and Tennyson. Wordsworth stipulated before accepting
Laureate International Universities of the biggest names in finance, including Henry Kravis, George Soros, Steve Cohen and Paul Allen". Laureate’s annual revenue is approximately $4 billion. The company holds $3.5 billion to $4.7 billion in debt. Moody's rated Laureate's corporate bonds as high-risk and characterized Laureate as highly leveraged. Laureate spends in excess of $200 million per year on advertising, including television commercials, online campaigns and billboards. There have been claims that "Laureate boosts revenue at struggling colleges by turbocharging enrollment, often without a parallel increase in academic investment." The Sylvan/Laureate Foundation was created in 1997 as a non-profit foundation to provide education,