If you wanted to go to the University of Chicago Graduate School of Business, you can’t anymore, because the GSB has ceased to exist… well, sort of. Today, alumnus David Booth donated $300MM of his firm’s stock to the school formerly known as the GSB, now known as the University of Chicago Booth School of Business.
Booth, a GSB graduate in 1971, started Dimensional Fund Advisors, a mutual fund company specializing in passive investing out of an apartment in 1981. Booth cites Chicago finance professor, Eugene Fama as the inspiration for his firm and thus chose to give back to the institution. According to the Wall Street Journal, the donations will go toward attracting and retaining professors, expanding research and publications and to its general endowment. Clearly, amid a challenging fundraising market, the Booth school has to be enjoying this moment even more than should usually be expected.