UC San Diego’s management and business school will receive an additional $100 million in donations over time from financier and insurance industry executive Ernest Rady and his family foundation, the university announced Tuesday.
The Radys, after whom the 11-year-old school is named, have already given the school about $38 million, officials said.
The Rady school’s dean, Robert S. Sullivan, said that he expects that much of the new pledge will be paid out over the next decade or so and the remainder will be provided after the deaths of Ernest Rady and his wife, Evelyn. The funds will create new endowed faculty chairs, student fellowships and educational programs, he said. The money also will help the school compete with longer-established business schools around the country for professors and students, he said.
"This will allow us to do the exceptional,” Sullivan said.
Ernest Rady, who is 77, was born and educated in Canada but has been a longtime resident and business leader in the San Diego region, with success in auto financing, insurance and real estate. In 2006, the Rady family donated $60 million to the Children's Hospital and Health Center in San Diego, and that facility was then named after them.
The UC San Diego management school is relatively small, enrolling about 205 students in graduate programs and teaching classes to about 1,400 undergraduates minoring in business, officials said. Plans call for future growth.
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