HUNTSMAN DONATES $26 MILLION TO COLLEGE
CNN Money
Dec 4 2007
Utah State Univ. Gets $26 Million From Huntsman
December 03, 2007: 06:07 PM EST
NEW YORK (Associated Press) – Utah billionaire Jon Huntsman Sr. pledged
$26 million Monday to Utah State University, the school’s largest gift.
Huntsman said $25 million will go to Utah State’s College of Business,
and $1 million will be dedicated to scholarships for Armenians.
The business school immediately got a new name: The Jon M. Huntsman
School of Business.
"We are deeply appreciative of the Huntsman family and their dedication
to higher education in Utah," Utah State President Stan Albrecht said.
"The impact of this generous gift will be felt not only by the College
of Business but by the entire university. The Jon M. Huntsman School of
Business will help our students prepare to become tomorrow’s leaders,"
Albrecht said.
Huntsman and his wife, Karen, announced the pledge at a lunch attended
by more than 500 people, with an overflow room for students.
Huntsman, father of Gov. Jon Huntsman Jr., has said the sale of
his chemicals company will fund his humanitarian and philanthropic
endeavors, including cancer research.
In July, Huntsman Corp. accepted a $6.51 billion bid from
private-equity firm Apollo Management LP, which owns Hexion Specialty
Chemicals Inc. of Columbus, Ohio. The deal is undergoing antitrust
review.
The dean of the business school, Douglas Anderson, said Huntsman is
expected to release his donation over time _ and there could be more
from the family’s foundation.
"This is an individual who doesn’t announce all of his gifts at once,"
Anderson said. "We expect to be partners for generations to come."
Huntsman’s money will be used to boost faculty salaries and launch new
programs covering finance and qualitative analysis, business ethics,
entrepreneurship and globalization.
The school has already raised money for a renovation of its George S.
Eccles Business Building, and Huntsman’s gift will be geared toward
academics, Anderson said.
Huntsman’s relationship with the Armenian people began after a
devastating earthquake in 1988 left thousands homeless.
Over 18 years, he contributed more than $50 million to the Armenian
people. His largesse helped build a K-12 school and an apartment
complex in Gyumri.
Utah State announced a comprehensive fundraising campaign in March,
which aims to generate $200 million. Spokesman John DeVilbiss says
$150 million has been raised.
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From: Emil Lazarian | Ararat NewsPress
