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Univ. of Chicago Biz School Banks $300M

Low-profile fund manager Booth makes historic donation

By Peter Fearon, Newser Staff

Posted Nov 7, 2008 5:46 AM CST

(Newser) – An alumnus of the University of Chicago who made a fortune from principles he learned at its graduate business school has donated a no-strings-attached $300 million to the school, reports the Chicago Tribune. The donation, by Dimensional Fund Advisors founder David G. Booth, is the largest ever to a business school anywhere in the world. The school will be renamed in Booth’s honor.

"He doesn't want to limit us, classify us or direct us," said the dean who will administer the fund. "He wants us to keep doing what we're doing.” The top priority, the dean said, will be recruitment. “There may be a lot of great schools not hiring next year. This is a really good time to push on faculty.”

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The University of Chicago. (The University of Chicago)

A Chicago investor made so much money from principles learned at the University of Chicago that he has endowed the business school with $300 million. (AP Photo/Henny Ray Abrams, file)

Charles M. Harper Center at University of Chicago Booth School of Business (University of Chicago)

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He doesn't want to limit us, classify us or direct us. He wants us to keep doing what we're doing. - University of Chicago Dean Edward Snyder

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Univ. of Chicago Biz School Banks $300M