Philip Knight, the founder and chairman of Nike (and Stanford alumnus, class of 1962), is dropping a boatload of cash on Stanford’s MBAs:
It has been announced today that Philip H. Knight … is to give $105m to Stanford Universityâ€™s Graduate School of Business. It is thought that this is the largest gift ever made to a business school.
$100m of the money has already been earmarked for the building of a new $275m campus for the business school. The new Knight Management Center, as it will be called, is set to consist of eight buildings set around three quadrangles on the existing campus. The remaining $5m will go on faculty endowment.
Remarkable generosity from Knight, even if I question how productively the money will be used.