For Business School Naming Rights, the Price Is Only Going Up
Northwestern University’s business school became the J.L. Kellogg Graduate School of Management in 1979, thanks to a $10 million gift from the John L. and Helen Kellogg Foundation. The Kelloggs got a bargain. The school is approaching 40 years with their name attached, even though its home has undergone a transformation and received far larger gifts. Contributions from the family foundation of alumnus and former Motorola Chief Executive Officer Chris Galvin and the estate of James Russell, among others, supported Kellogg’s new 415,000-square-foot home, which press reports peg at $250 million. In the decades since that 1979 gift, the cost of B-school naming rights has gone way up.
Kellogg School of Management
Kellogg’s Global Hub, which opened in late March, features a floating conference room and views of Lake Michigan.
Ross School of Business
In 2004, University of Michigan alumnus Stephen Ross gave $100 million toward a building for the B-school, which was renamed for him. He donated another $100 million to the school in 2013.
Tepper School of Business
Hedge fund billionaire and Carnegie Mellon alumnus David Tepper has committed more than $125 million to his alma mater over the last 14 years. That includes $67 million he gave in 2013 to support construction of a new home for the B-school, opening next year.
Booth School of Business
The University of Chicago renamed its school for alumnus David Booth after the investor made a $300 million donation in 2008.
Sloan School of Management
What was the real steal for business school naming rights? MIT renamed its school of management after the Alfred P. Sloan Foundation for a gift of more than $5 million in 1950.