Harvard Business School has received $50 million – its largest non-US-donor gift ever – from India’s Tata Group, according to an HBS press release yesterday. The money will fund the construction of an academic and residential building on HBS’ Boston campus for executive education participants. Ratan Tata, Chairman of Tata Sons Ltd., attended HBS’ Advanced Management Program in 1975 and received the school’s highest honor, the Alumni Achievement Award, in 1995. President Drew Faust said that with this gift, “HBS will be able to expand its already robust offerings in Executive Education, deepening ties with leaders across the country and around the globe.” This gift joins the ranks among some of the largest donations to business schools, with David Booth’s $300 million donation to Chicago two years ago being the highest, followed by $105 million given to Stanford by Philip Knight in 2006 and Henry Kravis’ $100 million donation to Columbia earlier this month. However, the Tata gift is the only major donation from someone outside the US who is not an MBA alum.
Read the full article: MBA News: HBS Receives $50m From Indian Conglomerate