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Home>Blog>MBA News>US$100M Gift to Help Expand UC San Diego’s Rady Bunch: MBA News
US$100M Gift to Help Expand UC San Diego’s Rady Bunch: MBA News
The Rady School of Management at the University of California, San Diego (UC San Diego) has received a new donation of US$100 million from Ernest Rady – the principal benefactor behind the school’s establishment in 2003.
Ernest Rady donation to help school compete for best faculty
While some of the money will be put aside for the provision of student scholarships and fellowships, it seems the overarching aim is to put the fruits of Ernest Rady’s generosity towards expanding and retaining a strong faculty.
The Rady School of Management’s founding dean and a former dean of UNC Kenan-Flagler, Robert Sullivan, suggested that the school would have to pay a premium to attract top-level faculty and compete with some of the US’s most prestigious and historic institutions:
“It is very difficult to recruit the best and brightest faculty. We’re competing with schools like Stanford, Berkeley and UCLA, and we’re competing with industry,” Sullivan told the San Diego Union-Tribune, which holds that the school plans on more than doubling its current tally of 27 full-time faculty members.
Rady’s gift is intended to kick start a wider UC San Diego fundraising campaign to pull in some US$2 billion. However, Sullivan said that a gift of US$100 million was a huge commitment and show of faith, on the part of Ernest Rady, in a business school as young as the Rady School – an institution that was founded on the basis of providing students with a focus on innovation and entrepreneurship.
Innovation focus at the Rady School of Management
In the 10 years since the school launched its full-time MBA program, 82 new companies have been formed by UC San Diego Rady alumni, from which an estimated US$2 billion contribution has been made to the regional economy, according to the school.
At the donation’s announcement, Ernest Rady – the founder of real estate and insurance companies, American Assets and ICW Group Holdings respectively - said the program offered by the Rady School of Management had developed with unforeseen speed and depth, and outlined his belief that greater things lay ahead.
The full-time MBA at the UC San Diego’s Rady School of Management shot up 21 places in this year’s Global 200 regional rankings – from 61st to 40th in North America, having not featured at all in 2012/13 ( the school acquired AACSB International accreditation in 2011).
VirBELA, a virtual world created to enhance collaboration between business students in different countries, was recognized in the ‘MBA and Professional Development’ category:
“We want to use the VirBELA virtual world to transform business education and receiving this award tells us we are on the right trajectory," the program’s co-founder and manager, Alex Howland said in a press release for the Rady School.
Tim is a writer with a background in consumer journalism and charity communications. He trained as a journalist in the UK and holds degrees in history (BA) and Latin American studies (MA).
US$100M Gift to Help Expand UC San Diego’s Rady Bunch: MBA News
By Tim Dhoul
Updated December 6, 2019 Updated December 6, 2019The Rady School of Management at the University of California, San Diego (UC San Diego) has received a new donation of US$100 million from Ernest Rady – the principal benefactor behind the school’s establishment in 2003.
Ernest Rady donation to help school compete for best faculty
While some of the money will be put aside for the provision of student scholarships and fellowships, it seems the overarching aim is to put the fruits of Ernest Rady’s generosity towards expanding and retaining a strong faculty.
The Rady School of Management’s founding dean and a former dean of UNC Kenan-Flagler, Robert Sullivan, suggested that the school would have to pay a premium to attract top-level faculty and compete with some of the US’s most prestigious and historic institutions:
“It is very difficult to recruit the best and brightest faculty. We’re competing with schools like Stanford, Berkeley and UCLA, and we’re competing with industry,” Sullivan told the San Diego Union-Tribune, which holds that the school plans on more than doubling its current tally of 27 full-time faculty members.
Rady’s gift is intended to kick start a wider UC San Diego fundraising campaign to pull in some US$2 billion. However, Sullivan said that a gift of US$100 million was a huge commitment and show of faith, on the part of Ernest Rady, in a business school as young as the Rady School – an institution that was founded on the basis of providing students with a focus on innovation and entrepreneurship.
Innovation focus at the Rady School of Management
In the 10 years since the school launched its full-time MBA program, 82 new companies have been formed by UC San Diego Rady alumni, from which an estimated US$2 billion contribution has been made to the regional economy, according to the school.
At the donation’s announcement, Ernest Rady – the founder of real estate and insurance companies, American Assets and ICW Group Holdings respectively - said the program offered by the Rady School of Management had developed with unforeseen speed and depth, and outlined his belief that greater things lay ahead.
The full-time MBA at the UC San Diego’s Rady School of Management shot up 21 places in this year’s Global 200 regional rankings – from 61st to 40th in North America, having not featured at all in 2012/13 ( the school acquired AACSB International accreditation in 2011).
A program developed at the school also picked up an award for its innovative approach towards higher education last year, in the inaugural edition of the Wharton-QS Stars: Reimagine Education Awards.
VirBELA, a virtual world created to enhance collaboration between business students in different countries, was recognized in the ‘MBA and Professional Development’ category:
“We want to use the VirBELA virtual world to transform business education and receiving this award tells us we are on the right trajectory," the program’s co-founder and manager, Alex Howland said in a press release for the Rady School.
This article was originally published in April 2015 . It was last updated in December 2019
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Tim is a writer with a background in consumer journalism and charity communications. He trained as a journalist in the UK and holds degrees in history (BA) and Latin American studies (MA).
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