Columbia Business School recently announced that two of its alumni have pledged a combined $40 million toward the construction of the school’s innovative new Manhattanville campus. Finance titans Arthur J. Samberg and Mario J. Gabelli, both members of the school’s Board of Overseers, pledged $25 million and $15 million respectively.
In explaining their donations, Samberg and Gabelli both highlighted their experiences at Columbia Business School as primary motivators.
“If there is one thing I have learned throughout my career it is that having good ideas are important, but the execution of good ideas is most crucial,” says Samberg. “Columbia Business School recognizes this distinction, and as such they are working to construct a world–class facility that will enhance their ability to equip students with the knowledge and know–how to make a powerful impact on the world. I am proud to be a small part of these efforts and look forward to supporting their mission however I can.”
“It is a fundamental tenet in our society that where you start in life on the ladder of opportunity should not dictate how high you can climb,” adds Gabelli. “My parents did not have a formal education. But they understood how important it was for me to attend Columbia Business School. I am extremely grateful for these opportunities and I want to do my part to give back to a dynamic school that has always empowered the aspirations of countless young entrepreneurs and business leaders.”
The two pledges come at a time of extraordinary momentum for Columbia Business School’s Manhattanville efforts. The school received a $100 million donation in May, tying the largest gift in the history of the school.
Glenn Hubbard, dean of Columbia Business School, expressed his gratitude for the gift, saying, “Thanks to their support, our new Manhattanville campus will feature classrooms of tomorrow and other cutting–edge innovations that will allow us to continue preparing the next generation of business leaders to confront the challenges of the 21st century economy.”