So, I am a little suprised this has never been mentioned on this site:
http://www7.gsb.columbia.edu/alumni/support-schoo…
What do you guys think this will do to the school's ranking in the future? Do you think a gift of this magnitude could possibly have the same effect the Booth gift had on the University of Chicago?
A Message From Henry Kravis:
Seven years after graduating from Columbia Business School I, with two partners, ventured into the world of small business ownership. The pieces fell into place: we were the right partnership employing the right ideas at the right time. I credit Columbia Business School for giving me much of the knowledge and connections that allowed me — and my company — to succeed.
Right now, Columbia Business School is at a similar inflection point. It has the people, curriculum, research, and ideas of a top business school. Soon it will have the facilities to match.
What is most exciting to me about the move to Manhattanville is that it offers increased opportunities for the School to connect with fellow New Yorkers, especially those who own small businesses in the Morningside Heights, West Harlem, and greater New York City communities. Just as I benefited from my Columbia Business School experiences and connections, I’m confident local business people will too.
The School has long been doing good outside the gates of the Columbia campus, and I’ve been impressed by the many community-oriented programs at the School. Top among them is the Columbia Community Business Program, which supports business growth and development in Upper Manhattan. Other excellent programs include the School’s Nonprofit Board Leadership Program, the Harlem Tutorial Program, the Hughie Mills Business Academy, the annual Holiday Party for Kids, as well as local chapters of such organizations as Junior Achievement and I-Prep.
I am inspired by the talent of the School’s faculty members and alumni, as well as students’ potential to effect positive change in the world. I am steadfastly confident that they can fulfill to that potential, never more than right now, with the promise of a new home in Manhattanville.
This move will — for the first time — bring the entire School together under a single roof, and it is with great pride that I pledge my support for the campaign.
Regards,
Henry R. Kravis ’69
Cochair, Columbia Business School Board of Overseers
Founding Partner, Kohlberg Kravis Roberts & Co.
Also, anyone think this will make an large improvement to the Harlem area? Things seem to already be improving in that region. Maybe it's time to start buying real estate...
jeez 100m and not even a name change for the school
Booth paid 300M for that.
Because Kravis understands that there's an elite level of name recognition with Columbia that few schools (and few people's names, no matter how rich/successful in business) could possibly match. Similarly, Phil Knight has given so much money to the Stanford GSB that you'd think he would want them to name the school for him, but both he and Stanford know that the Stanford name is so much more powerful, so it's in the school's best interest to keep it.
Chicago didn't have the same issue renaming itself to Booth, because Stanford/Harvard/Columbia are much better known abroad as prestigious institutions than UChicago. Same reason you'll never see Yale SOM give away naming rights IMO - the parent brand is too strong to give that up.
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KKR was a small business when it first started. Its because of them that LBOs are what they are today.
Well, them and Michael Milken^^^
Look at Stanford, got the new center named but its still GSB Can't take the school name off -too powerful
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I think it will help prestige in the long term but not immediately.
Agreed. Long term impact.
Schwarzman gave $350 million to MIT, $150 million to some uni in China, $150 million to Oxford, and $150 million to Yale.
Henry Kravis is just trying to keep up with the Joneses nothing more nothing less.
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