has announced a $100 million gift from Ronald O. Perelman, chairman and CEO of and a member of its board of overseers, to support construction of new business school facilities in a neighborhood north of the university's main campus.
The gift, which ties alum Henry R. Kravis's $100 million gift as the largest in the business school's history, will be used to build out the school's new Manhattanville campus. Designed by renowned New York architecture firm , the new buildings will encompass more than 450,000 square feet and help facilitate collaboration among students, faculty members, alumni, and practitioners from the broader business community.
Perelman, founder of the , has been an active member of the business school community for years, having served on its board of overseers since 1994 and given a number of gifts in support of various initiatives, including the and the school's annual dinner. In recognition of his most recent commitment, one of the school's two new buildings will be named the Ronald O. Perelman Center for Business Innovation.
"Ronald O. Perelman has long valued and supported business education and innovation in New York City," said Columbia Business School dean Glenn Hubbard. "We are extremely grateful for his vision and generosity, and this gift will allow us to reach a new phase in the school's expansion into Manhattanville. We are building more than facilities: we are enabling the greatest business minds of our time to work together in a forward-looking, collaborative space that will spur the ideas that will shape business for decades to come."