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Harvard Business School Gets $40 Million Gift From Chao Family

Harvard Business School received $40 million from the James S.C. Chao and Family Foundation for scholarships and an executive education building.

About $35 million of the donation will go to constructing the education center that will be named for the late Ruth Mulan Chu Chao, the business school said today in a statement. The remaining $5 million will go to scholarships for students of Chinese heritage, according to the statement.