The University of Chicago Booth School of Business will receive a $100 million donation to its doctoral program.
Ross Stevens, an entrepreneur and philanthropist, made the donation. Stevens received a doctoral degree from the business school in 1996. The program will be renamed the Stevens Doctoral Program in his honor.
“I believe that, over time, the quality of a business school’s Ph.D.s determines the quality of its faculty, which, in turn, determines the quality of the school itself,” Stevens said in a statement announcing the donation.
The donation will increase funding for business research, provide financial support through fellowships for top incoming students and establish a new alumni mentoring initiative, which Stevens will co-chair with Cliff Asness, his Booth classmate.
“Booth is already in an exceptionally strong position, but the students of tomorrow demand we don’t rest on our laurels today. By making Booth the unquestionable destination of choice for the very best Ph.D. applicants, this gift adds rocket fuel to Booth’s long-term mission,” Stevens said.
The donation will also go beyond academics and fund programs for wellness, public speaking, professional development and full-time mental health support.
“Thanks to Ross’ extraordinary generosity and bold vision, the Stevens Doctoral Program is poised to accelerate and broaden the impact of its scholars now and long into the future,” said Madhav Rajan, the dean of the Booth School of Business.
Stevens is the founder and CEO of Stone Ridge Holdings Group, a New York-based financial services firm.
