CMU alum bestows $67M on university
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 email@example.com.
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments â either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.