Perelman — who is CEO of MacAndrews & Forbes — says the school deserves it for its commitment to developing original business thinkers, The New York Times reports.
The donation — which ties the largest ever to the school — will be used in the construction of new buildings at the school’s Manhattanville campus. With his donation, one of the buildings will be named the “Ronald O. Perelman Center for Business Innovation.”
Pereleman — though he didn’t attend Columbia — has long been on the board of overseers at the university. He says, “Columbia Business School has its finger on the pulse of the changing nature of business education.”
In a statement, R. Glenn Hubbard, dead of Columbia Business School, said “Ronald O. Perelman has long valued and supported business education and innovation in New York City. We are extremely grateful for his vision and generosity, and this gift will allow us to reach a new phase in the school’s expansion into Manhattanville.”