{"id":2572,"date":"2016-09-25T23:44:20","date_gmt":"2016-09-25T18:14:20","guid":{"rendered":"https:\/\/www.jodi365.com\/singledout\/?p=2572"},"modified":"2020-10-19T16:54:20","modified_gmt":"2020-10-19T11:24:20","slug":"naming-rights-us-business-schools-fetched-over-billion-dollars","status":"publish","type":"post","link":"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/","title":{"rendered":"Naming Rights for These 10 US Business Schools Fetched $1.2 Billion!"},"content":{"rendered":"

Last week, we noted that 25\u00a0out of the top 30 business schools in the US were named after an individual<\/a>. \u00a0Here are profiles of 10 of them that raised the most money by selling the rights to their names. \u00a0Together, the money that they raised as part of their re-naming, amount to almost 1.2 billion dollars (in inflation-adjusted 2016 dollars).<\/p>\n

1.\u00a0Booth School of Business<\/h2>\n
\"Booth<\/a>
Catarina Oberlander<\/em><\/figcaption><\/figure>\n

Booth School of Business, also called\u00a0Chicago Booth was formerly known as the University of Chicago Graduate School of Business.<\/em> \u00a0It was established in 1898 as College of Commerce and Politics<\/i>. \u00a0In 1916 , it was renamed the School of Commerce and Administration<\/em>. \u00a0It was renamed for the third time in 1935 as the School of Business<\/em>. \u00a0It was shorty afterwards that they shifted the focus from their undergraduate programs to their graduate programs. \u00a0It underwent another name change in 1959 and became the\u00a0Graduate School of Business<\/em>\u00a0and held onto this name until 2008, when\u00a0alumnus David G. \u00a0Booth donated $300 million, the largest donation made to a business school,\u00a0and rechristened it as\u00a0The University of Chicago Booth School of Business<\/em>.<\/p>\n

On a global ranking by The<\/em>\u00a0Economist,\u00a0<\/em>Chicago Booth’s MBA program is current number one. \u00a0Booth School of Business is one among the M7, an informal group of seven elite private business schools said to have the world’s best MBA programs. \u00a0It offers courses such as\u00a0Full-Time MBA,\u00a0Evening MBA,\u00a0Weekend MBA, and\u00a0Executive MBA. \u00a0Additionally, Chicago Booth conducts research in various fields such as accounting, finance, economics, and quantitative marketing research. \u00a0International students make up a third of the total number of students at Chicago Booth.<\/p>\n

Location: Hyde Park, Chicago (main campus), London, and Hong Kong.<\/p>\n

Davis G. Booth is the co-CEO of Dimensional Fund Advisors<\/em>, an investment firm based in Austin, Texas. \u00a0In addition to the $300 million, Booth and his wife had donated $10 million to the institution in 1997. \u00a0Their philanthropist activities don’t remain restricted to the University of Chicago alone. \u00a0In 2004, they donated $9 million to the University of Kansas.<\/p>\n

2. UCLA Anderson School of Management<\/h2>\n
\"Anderson<\/a>
Laurent Blondeau<\/em><\/figcaption><\/figure>\n

Founded in 1935, UCLA Anderson School of Management was then known as the School of Management<\/em> at University of California, Los Angeles. \u00a0It was renamed\u00a0The School of Business Administration\u00a0<\/em>in 1950. \u00a0The name was changed again in\u00a01955; this time it was called Graduate School of Business Administration<\/em>. \u00a0A decade and a half later, this name was changed to Graduate School of Management<\/em>. \u00a0In 1987, John E. Anderson, a 1950 alumnus, donated $40 million to the institution. \u00a0The school’s name was changed to UCLA Anderson School of Management<\/em> shortly after this. \u00a0Years later, in 2015, John E.\u00a0Anderson’s widow, Marion Anderson donated $100 million to the business school.<\/p>\n

UCLA Anderson School of Management offers \u00a0MBA, Financial Engineering, and Ph.D. programs. \u00a0According to reports published by\u00a0US News\u00a0<\/em>and\u00a0Businessweek<\/em>, UCLA Anderson has one of the best business school programs in the US.<\/p>\n

Location: Los Angeles, California<\/p>\n

3. Ross School of Business<\/h2>\n
\"Ross<\/a>
mrdonduck<\/em><\/figcaption><\/figure>\n

Stephen M. Ross School of Business is associated with the University of Michigan. \u00a0It was established in the year 1924, but got its present name only in 2004, after its alumnus Stephen M. Ross donated $100 million to the school. \u00a0Stephen M. Ross is the chairman and owner of \u00a0The Related Companies,\u00a0<\/em>a real estate development company. \u00a0At the time when this donation was made, it was the largest amount that was gifted to a business school in the US.<\/p>\n

Ross’s BBA, MBA, and Executive Education programs are among the finest in the country and in the world. \u00a032% of MBA students and 11% of BBA students at Ross are foreign nationals. \u00a0Ross also welcomes around 100 exchange students from various other countries.<\/p>\n

Location: Ann Arbor, Michigan<\/p>\n

4. Owen Graduate School of Management<\/h2>\n
\"Owen<\/a>
Vanderbilt University<\/em><\/figcaption><\/figure>\n

The MBA program at\u00a0Vanderbilt University Owen Graduate School of Management is consistently ranked among the top business schools in the US. \u00a0Founded in 1969, it was then called the\u00a0Graduate School of Management. \u00a0<\/em>Owen Graduate School of Management was named after Ralph and Lulu Owen. \u00a0Ralph Owen was an alumnus of Vanderbilt University who went on to become the Chairman of American Express. \u00a0The school received $33.5 million upon the death of the couple. \u00a0Their donations together add up to $62 million.<\/p>\n

The most-sought-after programs\u00a0at Owen School are the\u00a0two-year MBA program, the Executive MBA program, Master of Accountancy, and Master of Finance programs. \u00a0A unique feature about Owen School is their low student to faculty ratio, which at\u00a09:1 is one of the best in the world.<\/p>\n

Location: Nashville, Tennessee<\/p>\n

5. Tepper\u00a0School of Business<\/h2>\n
\"Tepper<\/a>
Sachin<\/em><\/figcaption><\/figure>\n

Tepper School of Business was previously known as\u00a0the Graduate School of Industrial Administration<\/em> (GSIA). \u00a0It was founded in 1949 as Carnegie Mellon University’s business school. \u00a0In 2004, David Tepper, founder of Appaloosa Management<\/em>, donated $55 million to the school. \u00a0He had earned his MS in Industrial Administration from Tepper, which was still known as the GSIA\u00a0in 1982. \u00a0The school was\u00a0later renamed\u00a0David A. Tepper School of Business at Carnegie Mellon, to honor his generosity.<\/p>\n

Location: Pittsburgh, Pennsylvania<\/p>\n

6. McCombs School of Business<\/h2>\n
\"McCombs<\/a>
Kumar Appaiah<\/em><\/figcaption><\/figure>\n

McCombs began as the School of Business Administration<\/em> associated with the University of Texas. \u00a0It was established in 1922. \u00a0In 2000, Billy Joe\u00a0McCombs, an alumnus of the University of Texas and the founder of Red McCombs Automotive Group<\/em> donated $50 million to the university. \u00a0To honor him, The Graduate School of Business<\/em> and the College of Business Administration<\/em> were merged and given the name\u00a0Red McCombs School of Business.<\/p>\n

McCombs School of Business offers various undergraduate, Master’s, and doctoral programs in addition to executive education programs. \u00a0It is one of the top 25 business schools in the US.<\/p>\n

Location: Austin, Texas (main campus), Dallas, and Mexico City.<\/p>\n

7. UNC Kenan-Flagler Business School<\/h2>\n
\"UNC<\/a>
UNC Kenan-Flagler Business School<\/em><\/figcaption><\/figure>\n

The\u00a0Kenan-Flagler Business School was established in 1919 as the Department of Commerce<\/em> of the University of North Carolina’s Chapel Hill’s College of Arts. \u00a0It was renamed only in 1991 to honor two of its most important benefactors: Mary Lily Kenan Flagler and her husband\u00a0Henry Morrison Flagler. \u00a0Over the years, the Kenan family has donated approximately $50 million to the University of North Carolina.<\/p>\n

UNC Kenan-Flagler Business School offers Bachelor of Science in Business Administration, Master of Business Administration,\u00a0MBA for Executives, Master of Accounting, and\u00a0Ph.D. programs.<\/p>\n

Location: Chapel Hill, North Carolina.<\/p>\n

8. Kellogg\u00a0School of Management<\/h2>\n
\"Kellogg<\/a>
Jonathan Khoo<\/em><\/figcaption><\/figure>\n

The Kellogg School of Management was founded in 1908 in downtown Chicago as Northwestern University’s School of Commerce<\/em>. \u00a0It began as an evening program. \u00a0In 1976, the school expanded to its present main campus in Evanston, Illinois. \u00a0In 1979, John L. Kellogg donated $10 million to the institution. \u00a0Subsequently, it was named\u00a0J.L. Kellogg Graduate School of Management. \u00a0<\/i><\/p>\n

Forbes<\/em> ranks Kellogg at No. 3 and US News<\/em> ranks it at No. 6 in their lists of\u00a0the best MBA programs in the US.<\/p>\n

Kellogg offers courses such as\u00a0Master of Business Administration (MBA), MBA-JD, MMM programs, and Ph.D. programs. \u00a0The female student population is at a whopping 43% at Kellogg.<\/p>\n

Locations: Chicago, Illinois, Miami, and Florida.<\/p>\n

9. Haas School of Business<\/strong><\/h2>\n
\"Haas<\/a>
Prayitno Photography<\/em><\/figcaption><\/figure>\n

Walter A. Haas School of Business is one of the top ten business schools in the world,\u00a0according to The Economist, Financial Times, US News & World Report<\/em>, and Bloomberg Businessweek. \u00a0<\/em>Haas School of Business offers\u00a0full-time and part-time MBA and Ph.D.\u00a0degrees, executive education, Master’s in financial engineering, and undergraduate\u00a0programs.<\/p>\n

Haas School of Business began in 1898, as the\u00a0College of Commerce<\/em> of the University of California. \u00a0In 1955, the Graduate School of Business Administration<\/em> was set up to offer a course in Master of Business Administration. \u00a0In 1989, $23.75 million was donated by the Walter and Elise Haas Fund towards the construction of a new building complex to house the school. \u00a0After the completion of construction in 1995, classes were moved there from downtown San Francisco.\u00a0 The school was renamed the Haas School of Business in honor of the endowment which remains\u00a0the largest in the history of the college.<\/p>\n

Location: Berkeley, California.<\/p>\n

10. Fuqua School of Business<\/strong><\/h2>\n
\"Fuqua<\/a>
Fuqua School of Business<\/em><\/figcaption><\/figure>\n

Fuqua School of Business was called the Graduate School of Business Administration<\/em> when it was founded in 1969. \u00a0It is the business school of the\u00a0Duke University, North Carolina. \u00a0In 1974, the new dean initiated a campaign to raise money for the college. \u00a0Of the $24 million that was raised within a span of three years, $10 million was donated by J.B. Fuqua, a businessman and philanthropist. \u00a0To honor his magnanimity, the\u00a0Graduate School of Business Administration<\/em> changed its name to The Fuqua School of Business.<\/p>\n

Fuqua is one of the top business schools in the US and is currently ranked 8th according to a report by\u00a0Bloomberg BusinessWeek. \u00a0<\/em>Fuqua School of Business offers courses such as\u00a0MBA, Executive MBA, Master of Management Studies, a Ph.D. program, and joint degree programs in law, forestry, medicine, environmental management, public policy, and nursing.<\/p>\n

When J.B. Fuqua was young, he used to borrow books from the Duke University’s lending library. \u00a0He credited the university with\u00a0helping him to develop an interest in business techniques. \u00a0Donating to the fund raising campaign was his way of giving back to the university. \u00a0While his $10 million contribution\u00a0was the single biggest amount he donated, his donations\u00a0to the university throughout his life amounted\u00a0to approximately $40 million.<\/p>\n

Location: Durham, North Carolina.<\/p>\n

 <\/p>\n

Not included in the above shortlist are the Wharton School at U Penn\u00a0and the Tuck School of Business at Dartmouth College even though the naming donations they received were the highest ever to a US business at the time\u2014$100,000 to Wharton in 1881 and $300,000 to Tuck in $300,00.<\/p>\n

The reason for their exclusion: We don’t know of a way to adjust accurately for inflation prior to 1913! \u00a0Still, since the schools’ stories deserve mention, here goes:<\/p>\n

Honorary mention #1. Wharton School of the University of Pennsylvania<\/strong><\/h2>\n
\"Wharton<\/a>
Teofilo<\/em><\/figcaption><\/figure>\n

Wharton Business School is the first business school to come up in the US. \u00a0Joseph Wharton, a wealthy industrialist was inspired by the idea to found a school that would help teach students about the nuances of developing and running a business. \u00a0He donated $100,000 to the University of Pennsylvania and thus began the story of Wharton School of Finance and Economy.<\/p>\n

Both Business Insider<\/em> and QS<\/em> have ranked Wharton’s MBA program No. 1 in the world. \u00a036% of Wharton’s students are foreign nationals. \u00a0Notable alumni from Wharton include Elon Musk, Anil Ambani, Sunder Pichai, Warren Buffet, and Donald Trump.<\/p>\n

Location: Philadelphia and San Francisco.<\/p>\n

Honorary mention #2. Tuck School of Business<\/strong><\/h2>\n
\"Tuck<\/a>
Jay Collier<\/em><\/figcaption><\/figure>\n

The Amos Tuck School of Business Administration, also known as the Tuck School of Business, is one of the six Ivy League business schools in the US. \u00a0It is the graduate business school of Dartmouth College, Hanover. \u00a0Tuck grants only one degree: Master of Business Administration.<\/p>\n

In the early 1900s, the idea to build a school of business arose in the mind of\u00a0Dartmouth College president, William Jewett Tucker. \u00a0He approached\u00a0Edward Tuck, a wealthy banker whose father Amos Tuck had been an alumnus of Dartmouth. \u00a0Edward Tuck donated the capital to found the school in the form of stock shares amounting to $300,000 dollars. \u00a0The institution went on to become\u00a0the first in the US to offer Master’s degrees in business administration. \u00a0The institution was known as Amos Tuck School of Administration and Finance<\/em> after it was founded. \u00a0It was renamed\u00a0Amos Tuck School of Business Administration\u00a0<\/em>in 1953.<\/p>\n

Foreign students account for 43% of the total student population. \u00a0Also, 43% of the students are women.<\/p>\n

Location: Hanover, New Hampshire.<\/p>\n

 <\/p>\n

Another special mention: MIT Sloan School of Management<\/h2>\n
\"MIT<\/a>
Ian Lamont<\/em><\/figcaption><\/figure>\n

The business school of Massachusetts Institute of Technology is called MIT Sloan School of Management. \u00a0Sloan is renowned\u00a0for its full-time MBA course. \u00a0The school offers MBA and Executive MBA programs in addition to undergraduate courses in management science.<\/p>\n

Although it was established in 1914, it received its current name only decades later. \u00a0In 1931, Alfred P. Sloan, an 1895 MIT graduate and a long-time chief executive of General Motors sponsored a program which was called the Sloan Fellows program. \u00a0In 1952, Alfred P. Sloane Foundation, a non-profit philanthropic organization donated more money to set up\u00a0MIT School of Industrial Management. \u00a0In 1964, it was renamed\u00a0Alfred P. Sloan School of Management to honor his generosity. \u00a0MIT Sloan School of Management receives annual funding from\u00a0Alfred P. Sloan Foundation, hence the special mention on our list.<\/p>\n

A tidbit: MIT\u00a0Sloan played a key role in founding the first Indian Institute of Management in Calcutta, back in 1960.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Last week, we noted that 25\u00a0out of the top 30 business schools in the US were named after an individual. \u00a0Here are profiles of 10 of them that raised the most money by selling the rights to their names. \u00a0Together, the money that they raised as part of their re-naming, amount to almost 1.2 billion […]<\/p>\n","protected":false},"author":31,"featured_media":2579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-features"],"yoast_head":"\nNaming Rights for These 10 US Business Schools Fetched $1.2 Billion! | SingledOut by Jodi365.com<\/title>\n<meta name=\"description\" content=\"25 of the top 30 US business schools are named after an individual. Naming rights for 10 of them alone fetched close to $1.2 billion (in 2016 dollars)!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naming Rights for These 10 US Business Schools Fetched $1.2 Billion! | SingledOut by Jodi365.com\" \/>\n<meta property=\"og:description\" content=\"25 of the top 30 US business schools are named after an individual. Naming rights for 10 of them alone fetched close to $1.2 billion (in 2016 dollars)!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/\" \/>\n<meta property=\"og:site_name\" content=\"SingledOut by Jodi365.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/jodi365\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-25T18:14:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-19T11:24:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.jodi365.com\/singledout\/wp-content\/uploads\/2016\/09\/wharton.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Annu John\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@jodi365\" \/>\n<meta name=\"twitter:site\" content=\"@jodi365\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Annu John\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/\"},\"author\":{\"name\":\"Annu John\",\"@id\":\"https:\/\/www.jodi365.com\/singledout\/#\/schema\/person\/4b883a464000250643c50383154c72cf\"},\"headline\":\"Naming Rights for These 10 US Business Schools Fetched $1.2 Billion!\",\"datePublished\":\"2016-09-25T18:14:20+00:00\",\"dateModified\":\"2020-10-19T11:24:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/\"},\"wordCount\":2165,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.jodi365.com\/singledout\/wp-content\/uploads\/2016\/09\/wharton.jpg\",\"articleSection\":[\"Features\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/\",\"url\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/\",\"name\":\"Naming Rights for These 10 US Business Schools Fetched $1.2 Billion! | SingledOut by Jodi365.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.jodi365.com\/singledout\/naming-rights-us-business-schools-fetched-over-billion-dollars\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.jodi365.com\/singledout\/wp-content\/uploads\/2016\/09\/wharton.jpg\",\"datePublished\":\"2016-09-25T18:14:20+00:00\",\"dateModified\":\"2020-10-19T11:24:20+00:00\",\"description\":\"25 of the top 30 US business schools are named after an individual. 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