The University of Pennsylvania’s Wharton School this week announced its largest-ever single gift, from alumnus Marc J. Rowan (W’84 & WG’85) and his wife Carolyn. The generous $50 million gift will help attract new world-class faculty and support the Penn Wharton Budget Model (PWBM), a groundbreaking program on economic policy analysis. The gift counts toward the More Than Ever fundraising campaign, which now features an increased goal of $1 billion, up from $850 million.

$50 Million Goes a Long Way

The $50 million gift will enhance Wharton’s ability to address complex global challenges through research and teaching. Specifically, it will provide for the recruitment of three new Rowan Distinguished Professors, leaders in their fields who can help connect academia and business.

The gift will also support a select number of Rowan Fellows, individuals chosen for five-year terms to conduct innovative research and teaching.

Finally, the gift will enhance the Penn Wharton Budget Model, which uses big data to promote evidence-based policy decisions in the United States.

“I am deeply grateful for Marc and Carolyn’s extraordinary gift, which reflects their passion to bring to Wharton the most innovative researchers working on the world’s most pressing and important questions,” Wharton Dean Geoffrey Garret said in a press release. “Their commitment is the cornerstone of a campaign that will empower Wharton, more than ever, to create leaders who will change the world.”

Inspired to Give

Rowan, who serves as chair of Wharton’s Board of Overseers, a Penn trustee, and co-chair of the More Than Ever campaign, was inspired by Wharton’s cutting-edge faculty to make the unprecedented gift.

“Carolyn and I are honored to join the vision of the Wharton community to bring the school’s outstanding students face to face with the most important thinkers of our time,” he said in a statement. “As top Wharton researchers advance and shape their fields, they transform the lives of their students, preparing them to make a difference in the business world and beyond.”

To read more about the gift, check out the original press release at Wharton News.