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Archive for Saturday, November 8, 2008

KU alumnus gives $300M to Chicago business school

November 8, 2008

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Kansas University alumnus David Booth has made a large donation to the University of Chicago.

The founder and chief executive of Dimensional Fund Advisors, an investment firm, donated $300 million to the University of Chicago's Graduate School of Business, where he graduated in 1971.

The business school will be renamed in his honor.

"It would be hard to find anyone who benefited more from a University of Chicago education and from the faculty at Chicago than I have," Booth said, in a university release. "I believe the quality of a business school's faculty will determine the quality of a business school over the long run. The school is already in a strong position. This gift is intended to help it keep moving forward."

Booth has been active in giving to local schools from which he graduated, including a $5 million gift for the Booth Family Hall of Athletics at Kansas University and a $100,000 gift to Lawrence High School.

He also has supported the KU School of Business and serves as a KU Endowment Trustee. He received an undergraduate degree in economics in 1968 and a master's degree in business in 1969, both from KU.

Comments

SMe 6 years, 1 month ago

Interesting thought here.The Booths have been big time KU folks for some time (witness the Booth Hall of Athletics) but about two seasons ago Hank Booth was "removed" as an announcer at KU BBall (if I remember correctly he did the Fieldhouse announcements, etc.) over something he said not appreciated by Lew Perkins.Now here's 300 Mil from another Booth going to Chicago and not KU.You know payback could actually be a bitch.

ku_tailg8 6 years, 1 month ago

I feel so sorry for this country. Some of you idiots are so distorted that I can't even begin to rip on you. Just shut your yapper because you are probably mentally retarted

PapaB 6 years, 1 month ago

I have a friend who left Lawrence to go work for Dimensional Fund Advisors in Austin. One thing was very clear, they have money and are doing well.

Jeff Kilgore 6 years, 1 month ago

How about appreciating the 5 million he gave to the athletic hall? If I were him and read this, I would be displeased to say the least. It is his money, and he could've snubbed KU completely. I would wager that if he gave 5 million, there's more to come, but even if not, he's done a wonderful thing, that is, if you like the hall, which I think is really nice. Plus, I don't agree about Allen. It is a basketball cathedral. Those who complain about it don't realize how good they have it. More rabid fans would LOVE to have the moolah to just get in!

KU_cynic 6 years, 1 month ago

Booth is extremely grateful to his U of C mentors and how their work influenced the rest of his life. With his major gift he further leverages the GSB's reputation, moving it to ever loftier heights in the competition among super-elite business schools for faculty and students. I wish Booth might have shared some generousity with KU, where the business school is struggling to raise tens of millions of dollars for a new building. But his gift to GSB will help make a great business school even greater, whereas fundraising success of the kind KU aspires to (yet struggles to attain) might only serve to make KU's school of business a little less mediocre.Finally, I wish Chancellor Hemenway et al would take notice of Booth's observation that, "I believe the quality of a business school's faculty will determine the quality of a business school over the long run." KU aggressively applies this philosphy in pursuit of athletic directors, coaches, and high profile basketball and football players. Sadly, the philosophy has been extended to academics only sporadically.

mom_of_three 6 years, 1 month ago

who is to say he hasn't donated money to the new building? The school doesn't announce every donor.

Steve Jacob 6 years, 1 month ago

Guessing if he has 300M to give, the school did him a lot of good.Also got this from another story..."When he was a student in the business school, Booth decided that rather than continuing with his plan to return to his home state of Kansas for an academic career, he would apply his training to the real world"Keep thinking in economics, the smartest get rich, the rest teach.

Sean Livingstone 6 years, 1 month ago

srj: "Keep thinking in economics, the smartest get rich, the rest teach"Cellphone will never be invented without a theory (from a professor) discovered in 1920s.No atomic energy without a professor (Einstein) discovering a theory.DNA..... dedicate that to professors.Of course, someone need to discover the theory, and someone else need to apply that theory.The only "stupid" ones are people who don't understand that link (probably like yourself).

WilburM 6 years, 1 month ago

srj -- Booth used the ideas of a Nobel winning Chicago economist as the backbone of his investment philosophy, and used UC academics as advisers to his firm. I'm sure they are not suffering, and get to lead lives that are fully as rewarding as Booth's (which seems to have been great as well).

littlejohnny 6 years, 1 month ago

Why didn't Fuerst ask Booth to donate some money to KU B-school?

Sean Livingstone 6 years, 1 month ago

srj,Look who are inventing the economic theories and where they come from:http://nobelprize.org/nobel_prizes/economics/laureates/2008/index.htmlhttp://nobelprize.org/nobel_prizes/economics/laureates/2007/index.htmlhttp://nobelprize.org/nobel_prizes/economics/laureates/2006/index.htmlhttp://nobelprize.org/nobel_prizes/economics/laureates/2005/index.htmlhttp://nobelprize.org/nobel_prizes/economics/laureates/2003/index.htmlhttp://nobelprize.org/nobel_prizes/economics/laureates/1983/index.htmlWithout these theories, none of the world economies can run properly, none of the private businesses can function properly. Practitioners simply take these theories and apply them in a more pragmatic way.I agree, these "professors" are "stupid" since they remain poor even though, they're smart. Well, someone needs to clean your thrash, so to relieve your mind to do something else. Someone needs to plant the food for you, so that you don't have to do it yourself. That's plain economics: Specialization.

Keith 6 years, 1 month ago

Cellphone will never be invented without a theory (from a professor) discovered in 1920s.Actually, the actress Hedly Lamarr held one of the basic patents that led to the cell phone. Also, I don't believe Hank Booth and David Booth are related, though I could be wrong about that.

mom_of_three 6 years, 1 month ago

rantor,They will never tear down the fieldhouse. It's the House that Wilt built, and one of the best and most famous, if not the best, basket ball venue in the country.

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