Harvard Business School received the largest gift from an international donor in the school’s 102-year history yesterday with a gift of $50 million from the Sir Dorabji Tata Trust and the Tata Education and Development Trust, philanthropic entities of India’s Tata Group.
The gift will fund a new academic and residential building on the HBS campus in Boston for participants in the school’s Executive Education programs. The school hopes to break ground for the building, which will be named Tata Hall, next spring.
“The Harvard Business School is the preeminent place to be exposed to the world’s best thinking on management and leadership, and we are pleased that this gift will support the School’s educational mission to mold the next generation of global business leaders,” says Ratan Tata, the Chairman of Tata Sons Ltd.
While Tata did not pursue an MBA at Harvard, he did attend the Advanced Management Program offered by HBS Executive Education in 1975. He received the school’s highest honor, the Alumni Achievement Award, in 1995.
“Ratan Tata knows firsthand the transformative educational opportunities offered through Harvard Business School’s Executive Education programs,” says president Drew Gilpin Faust. “Thanks to this generous gift, HBS will be able to expand its already robust offerings in Executive Education, deepening ties with leaders across the country and around the globe.”
Business school dean Nitin Nohria also expressed deep appreciation for the Tata Group’s extraordinary generosity, calling it a historic gift from a renowned organization revered for its significant economic, civic, and philanthropic impact.