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.
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. Pitt joins Giant Eagle, sets goal to put more disabled on payroll
  2. Crews dodge ammunition fighting house fire in Penn Hills
  3. Pittsburgh Marathon runner remains in critical condition
  4. Vehicle strikes pedestrian near UPMC McKeesport
  5. Relentless winter exhausted PennDOT’s snow removal budget
  6. Allegheny County restaurant grading proposal might get an ‘F’
  7. Police seek missing Marshall-Shadeland girl
  8. Pittsburgh officials to hear opinions, answer questions about bus rapid transit project
  9. Plum Borough officials placed on paid administrative leave
  10. McKees Rocks couple charged with child endangerment in death of 3-month-old
  11. Baldwin man, cleared in 2 murders, set to stand trial