Deals
Apollo's Marc Rowan Gives Wharton $50 Million for Professorships
- Gift is biggest single donation to UPenn’s business school
- Wharton fundraising campaign is seeking $1 billion in gifts
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Marc Rowan, a co-founder of Apollo Global Management LLC, gave $50 million to the Wharton School at the University of Pennsylvania, the largest single gift in Wharton’s history.
The funds will be used to recruit three Rowan Distinguished Professors, appoint Rowan Fellows and support the Penn Wharton Budget Model, which analyzes government spending and revenue. The gift surpasses the $40 million given by Jon Huntsman Sr. and family in 1998.