TribLIVE

| News

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

CMU alum bestows $67M on university

Email Newsletters

Click here to sign up for one of our email newsletters.

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

Friday, Nov. 15, 2013, 12:01 a.m.
 

A trade publication last year ranked investor and hedge fund manager David A. Tepper as the top earner in the industry. This month, Tepper, a 1982 graduate of Carnegie Mellon University, gave CMU $67 million — the largest gift ever from an alumnus.

CMU plans to announce Tepper's gift on Friday as the university prepares to install former National Science Foundation director Subra Suresh as its ninth president.

“David Tepper is a visionary, both as a businessman and a philanthropist, and we are grateful for his generous support of the university and the business school that bears his name,” Suresh said.

In 2004, Tepper gave CMU $55 million, a gift that precipitated the renaming of CMU's business school as the Tepper School of Business.

Tepper, 56, a Pittsburgh native, is the founder of Appaloosa Management.

Institutional Investor's Alpha, a trade publication, ranked his $2.2 billion paycheck as the highest in the industry after a strong showing for the fund in 2012.

University officials said the new gift from Tepper's charitable foundation will enable CMU to establish a university gateway and interactive hub through the creation of the “David A. Tepper Quadrangle” and the construction of a 295,000-square-foot building that will be a new home for the Tepper School of Business.

“I'm excited by President Suresh's and the university's vision to make CMU the foremost entrepreneurial academic institution in the nation,” Tepper said. “CMU has a long history of providing the world with innovative thinkers and the establishment of a true hub for entrepreneurship will help create the next generation of global leaders.”

Debra Erdley is a staff writer for Trib Total Media. She can be reached at 412-320-7996 or derdley@tribweb.com.

Subscribe today! Click here for our subscription offers.

 

 

 


Show commenting policy

Most-Read Allegheny

  1. City, ex-manager of Pittsburgh police Office of Personnel and Finance reach settlement
  2. W.Va. authorities charge 87 with drug trafficking
  3. Newsmaker: Megan Cicconi
  4. Boy Scouts’ end to ban on gay leaders unnerves religious groups
  5. School credit ratings a problem for several in Western Pennsylvania
  6. Western Pa.’s ties to 2016 White House race extend beyond Santorum
  7. Rising East Liberty out of reach for Pittsburgh’s poor
  8. Projects advance through Pittsburgh planning commission despite opposition
  9. Remains of 4 early colonial leaders discovered at Jamestown
  10. Pittsburgh man jailed on theft, assault and drug charges
  11. Penn, Butler come alive at final OpenStreets event in Pittsburgh