MBA News: McCombs Receives $25M Donation

Last week, Dallas businessman Robert B. Rowling, the founder of TRT Holdings (which owns shares of Omni Hotels and Gold’s Gym), announced that he would be making a $25 million gift to the University of Texas (UT) McCombs School of Business. Rowling—a former UT regent and chairman of UT System’s nonprofit endowment—told the Austin American-Statesman that the school needed “a shot in the arm,” adding, “I love being able to stand up right now and say this is a great institution.” His donation will go toward McCombs’s planned $155 million expansion, which includes a new parking garage and a new building. These facilities are scheduled for completion in 2017 and will be named in Rowling’s honor.