It’s one of the biggest gifts a business school has ever received. The University of Chicago Booth School of Business announced Monday (May 1) that entrepreneur and philanthropist Ross Stevens, PhD ’96, has made a gift of $100 million to the school’s PhD program to advance the frontiers of academic business research. In recognition, the program will be renamed the Stevens Doctoral Program.
“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,” says Booth Dean Madhav Rajan.
Stevens is the founder and CEO of New York-based Stone Ridge Holdings Group, which focuses on alternative asset management, reinsurance and bitcoin. The $100 million gift will ensure competitive stipends for matriculates, more than double research support, and additional financial support via Stevens Fellowships for the top incoming students.
CELEBRATION OF STEVENS’ GIFT ON MAY 12
Additionally, the gift will go beyond academics to support the “full person.” Stevens Program students will benefit from personalized coaching programs in wellness, public speaking, and professional development, as well as full-time mental health support.
Stevens’ gift will also stablish a new alumni mentoring initiative, formally connecting current PhD students with PhD alumni across academia, government and industry. Stevens will co-chair the initiative with Cliff Asness, MBA ’91, PhD ’94, his Booth classmate, mentor, co-author, and first boss.
“I believe that, over time, the quality of a business school’s PhDs determines the quality of its faculty, which, in turn, determines the quality of the school itself,” Stevens says.
“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 PhD applicants, this gift adds rocket fuel to Booth’s long-term mission.”
The gift from Ross Stevens and the naming of the Stevens Doctoral Program will be celebrated at Chicago Booth’s PhD Centennial celebration on May 12.
The biggest gift to a U.S. business school to date is David Booth’s $300 million gift to the Chicago Booth in 2008.
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