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Alum Donates $300 Million to the Univ. of Chicago

An alumnus has given the University of Chicago’s business school a $300 million gift, the university announced Thursday, according to The Associated Press.

David G. Booth’s unrestricted donation is “the largest individual gift ever to a U.S. business school and the largest in the University of Chicago’s history,? Dean Edward Snyder said according to MSNBC.

The gift more than doubled the previous record for a business school donation, which was a $105 million endowment from Philip Knight, founder of Nike Inc., to Stanford University’s Graduate School of Business in 2006, Snyder said.

Snyder announced at a news conference Thursday that the school will be renamed the University of Chicago Booth School of Business.

The money will be used to expand the school’s presence abroad as well as “attract star faculty,? Snyder told MSNBC.