Wilbur Ross Gives $10 Million to Yale Business School

The billionaire Wilbur Ross will donate $10 million for a library in Yale School of Management’s new building.

The gift will help fund construction of the $189 million facility, scheduled to open in 2013. Yale University, in New Haven, Connecticut, announced the pledge today in an e-mail.

Ross, 72, a trustee of the Yale School of Management, is chairman and chief executive officer of New York-based WL Ross & Co., which specializes in reorganizing distressed companies. He received a bachelor’s degree from Yale University in 1959, and went to Harvard Business School in Boston for his master’s of business administration degree because Yale didn’t have a business school at the time, Ross said in the statement.

“Since joining the Yale SOM board, I have become convinced that the quality of both faculty and students is world class and that they deserve a campus of equal quality,” Ross said.

Yale School of Management opened in 1974 and is the youngest of six business schools in the Ivy League, a group of eight private U.S. colleges in the northeast. The new building is being designed by Norman Foster, architect of London’s “Gherkin” tower.

To contact the reporter on this story: Oliver Staley in New York at ostaley@bloomberg.net

To contact the editor responsible for this story: Jonathan Kaufman at jkaufman17@bloomberg.net

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