Alums Give Record-Setting Multimillion Dollar Gifts To UMass, Wharton: Forbes

Graduates of the University of Massachusetts and Wharton School of the University of Pennsylvania gave their alma maters multimillion-dollar record-setting gifts, Forbes reported.

"The Wharton School was given $60 million — its largest gift in history — from Bruce Jacobs," according to the Forbes story. "UMass Amherst received its largest gift ever — $50 million for its engineering programs — by alumnus Dan Riccio."

The Wharton School is using Jacobs' $60 million to start the Dr. Bruce I. Jacobs Master of Science in Quantitative Finance program, Forbes said, and Riccio's $50 million, which he is paying over 10 years, will be used to support the university’s engineering program.

Jacobs is "principal and co-founder of Jacobs Levy Equity Management where he serves as co-chief investment officer, portfolio manager, and co-director of research," the Forbes story said, and Riccio was "senior vice president of hardware engineering at Apple, before retiring after a 26-year career."

See the full story here.

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