The Wharton School has much to celebrate this week, having received the largest single gift ever in its history. A pledge of $50 million from alumnus Marc J. Rowan and his wife, Carolyn Rowan tops the Huntsman family’s gift of $40 million in 1998.
The Rowans’ gift will strengthen Wharton’s ability to address the most complex global challenges and opportunities head on. Their generous funding will also support the Penn Wharton Budget Model (PWBM), the university’s economic policy analysis program.
Largest Single Gift to Fund Major Priorities
With this commitment, Wharton will recruit three Rowan Distinguished Professors to inspire faculty and students alike, and build bridges between academia and business.
The Rowans’ gift will also support the appointment of a select number of Rowan Fellows for five-year terms. These designations will recognize and support Wharton’s most distinguished faculty in their commitment to innovative research and teaching.
Rowan credits his own success to the inspiring faculty during his time at Wharton, lauding their commitment to cutting edge education.
“Carolyn and I are honored to join the vision of the Wharton community to bring the School’s outstanding students face to face with the most important thinkers of our time. As top Wharton researchers advance and shape their fields, they transform the lives of their students, preparing them to make a difference in the business world and beyond,” Rowan explained in a press release announcing the gift.
Additionally, the Rowans designated $12 million to fund the Penn Wharton Budget Model, the research-based initiative started to help launch Wharton to the forefront of public policy innovation.
“I am deeply grateful for Marc and Carolyn’s extraordinary gift, which reflects their passion to bring to Wharton the most innovative researchers working on the world’s most pressing and important questions,” says Wharton Dean Geoffrey Garrett. “Their commitment is the cornerstone of a campaign that will empower Wharton, more than ever, to create leaders who will change the world.”
Rowan is a co-founder and Senior Managing Director of Apollo Global Management, LLC. He graduated Summa Cum Laude from the Wharton School with a BS and an MBA in Finance.