CHICAGO - The University of Chicago says an alumnus has given its business school a $300 million gift, a record sum that comes as many universities worry they'll see donations dry up amid the financial meltdown.
The unrestricted donation by David G. Booth, chairman and CEO of Dimensional Fund Advisors, and his family is the largest individual gift ever to a U.S. business school and the largest in the University of Chicago's history, said Dean Edward Snyder.
The school will be renamed the University of Chicago Booth School of Business, said Snyder, whose announcement Thursday was met by a standing ovation and cheers from students and faculty assembled at a news conference.
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