UCSD announced April 7 that San Diego businessman and philanthropist Ernest Rady has committed $100 million to help recruit and retain faculty and fund strategic priorities at the school’s Rady School of Management. Rady said the new commitment is driven by his philosophy of “return on life,” or ROL.
“We want the resources that we’ve been fortunate enough to accumulate to go to help other people,” he said. “That help could be for a student who receives a fellowship to attend the region’s top business school. Or success for a start-up whose founders learned how to turn ideas into opportunities. Or saving a child through technology and science developed by a Rady graduate.”
“The Rady School is an integral part of UC San Diego and a vital, entrepreneurial component to San Diego’s science and technology communities,” said UCSD Chancellor Pradeep Khosla. “The generous commitment from Evelyn and Ernest Rady and the Rady Family Foundation allows the school to continue its tradition of success and impact.”
With a $30 million lead gift in 2004, Evelyn and Ernest Rady and the Rady Family Foundation helped establish the school, later contributing $5 million toward the expansion of the business school’s campus. Graduates have launched more than 80 successful companies.
“What a magnificent first 10 years — and the school is just getting started,” Rady said. “Dean [Robert] Sullivan and other leaders within the community held a vision of a business school in a symbiotic relationship with the innovative culture of our region. The school is already exceeding expectations, and there is so much more to come.” – Times of San Diego