MBA News: CBS Receives $40M Gift for New Campus

This week, two Columbia Business School (CBS) alumni donated a total of $40 million toward the completion of the school’s planned Manhattanville campus. Arthur J. Samberg (’67), who pledged $25M, and Mario J. Gabelli (’67), who pledged $15M, are both members of the school’s Board of Overseers and join the ranks of Ronald O. Perelman and Henry R. Kravis, who each made record $100M gifts, contributing to the new facility. So far, the school has raised $500M of its $600M fundraising target. Mario Gabelli—who is the founder, chairman and CEO of Gabelli Asset Management Company Investors—was listed among Forbes magazine’s 400 wealthiest Americans in 2006. His former classmate Arthur Samberg is the chief investment officer for Pequot Capital Management, a $5 billion hedge fund.  “I am extraordinarily grateful to accept these generous pledges,” stated CBS Dean Glenn Hubbard, adding that the gifts will allow the Manhattanville campus to “feature classrooms of tomorrow and other cutting-edge innovations.”