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Two alumni of the University of Chicago’s Booth School of Business have committed $75 million to help establish 30 new endowed faculty chairs across the institution, the university announced Monday.
The gift, from Amy Wallman and trustee Richard Wallman, who earned their M.B.A.s in the mid-1970s, launches a fundraising challenge for other prospective donors to help raise a total of $150 million to advance impactful scholarship.
The Wallmans’ $75 million donation is the largest in the university’s history designated for supporting faculty chairs.
“This generous commitment from the Wallmans will greatly support our world-class faculty and will accelerate the impact the University can have on the world,” said university president Paul Alivisatos. “I am deeply grateful to Amy and Richard for their partnership and the ambition of their philanthropy, which will ensure that we can continue to recruit and retain the faculty who are making the most important contributions to human knowledge and society.”
The Wallmans will match each new pledge of $2.5 million or more with a matching $2.5 million donation. The professorships established with the funds will be named for the participating donors.
