Non-public fairness investor Konstantin Sokolov has donated $100 million to the College of Chicago Sales space College of Enterprise, giving it a possible lifeline at a time when elite US faculties danger shedding billions of {dollars} in federal funding.
Sokolov devoted the funds to the college’s government MBA program, from which he graduated 20 years in the past. (https://www.chicagobooth.edu/)
Sokolov devoted the funds to the college’s government MBA program, from which he graduated 20 years in the past. The College of Chicago mentioned the present will guarantee this system can proceed to supply scholarships and afford its operations. Based in 1943 to handle wartime demand for expert directors, the manager MBA curriculum will probably be renamed after him.
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“Sokolov’s gift will strengthen Chicago Booth’s ability to attract the most talented executive MBA students from around the globe,” the college mentioned in a launch Tuesday. “The gift will also make it possible for the school to continue to refine its curricular and programmatic offerings.”
The donation comes at a precarious time for US greater schooling. President Donald Trump’s administration is looking for sweeping oversight of high universities it says aren’t doing sufficient to battle antisemitism on campuses. Late Monday, a authorities activity pressure mentioned it’ll freeze $2.2 billion of multiyear grants to Harvard College after its president, Alan Garber, rejected calls for from the administration. The federal government has additionally canceled $400 million in funding to Columbia College and paused funds to Northwestern and Cornell.
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Massive donations have gotten an more and more important supply of assist for US faculties. Final 12 months, the College of Chicago acquired an nameless $100 million donation to assist free expression. Sokolov final 12 months additionally dedicated unrestricted funds to advance the college’s enterprise college. He mentioned his schooling there was instrumental to his profession.
“Two decades after my graduation, the lessons I learned, the experiences I gained, and the friendships I forged at Booth remain the foundation of my career and my life,” Sokolov mentioned within the launch. “The school’s relentless pursuit of knowledge is an inspiration, and I hope my support will contribute to its continued success.”
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After shifting to the US from Russia at age 21, Sokolov went on to discovered non-public fairness agency IJS Investments and have become a frontrunner of nationwide infrastructure initiatives in telecommunications, vitality and monetary companies.