TribLIVE

| News


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

CMU alum bestows $67M on university

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.

 

 

 
 


Show commenting policy

Most-Read Allegheny

  1. Approval for Wal-Mart closer in McCandless
  2. 1 intruder killed, other shot and wounded in Carrick home invasion
  3. Evacuees return to Young Hotel apartments in Pitcairn
  4. Grand jury report says Western Psych failed to cooperate with police
  5. UPMC, Pittsburgh drop tax-status fight
  6. Newsmaker: Kevin Hogan
  7. Foreign influx in Allegheny County at ‘tipping point’
  8. Pittsburgh crime down overall in 2013 but rapes, homicides increased
  9. TSA finds .380-caliber handgun in carry-on bag at Pittsburgh International Airport
  10. Turtle Creek’s man death ruled a homicide
  11. Allegheny County alert system expands to public works, health
Subscribe today! Click here for our subscription offers.