London Business School gets $15.5m donation
Dubai, September 4, 2013
London Business School has received its largest ever single individual donation of GBP10 million ($15.5 million) from South African businessman Nathan Kirsh.
The gift will contribute to the school’s endowment, which will increase by almost 40 per cent as a result. The donation is unrestricted, which means the school can use the funds for projects of its choosing, said Professor Sir Andrew Likierman, dean, London Business School.
“This extremely generous gift is a real game-changer for the School, allowing us to build our endowment and providing us with the resources we need to build on our world-class position,” he added.
“The majority of our peer schools have been building their endowments over decades, and in some cases centuries. At almost 50 years old, we’re relative newcomers in comparison, which is why this seminal gift is so important.”
With his appreciation for London as a global business centre, it was Kirsh’s determination to back a world-class British institution that led him to London Business School, a statement said.
“Nurturing future leaders is essential for business and business schools have a huge part to play in this. That’s why supporting business education, in Britain in particular, is so important. My hope is that my gift will act as a stepping stone in the right direction, a benchmark for others to follow,” Kirsh said.
Currently, according to the Times Higher Education World Academic Summit Innovation Index, the UK is in 26th place in terms of corporate investment in research and innovation.
Nathan Kirsh is a South African entrepreneur and owner of London’s iconic Tower 42. His principal business interest is Jetro Holdings, which operates Jetro Cash and Carry stores and Restaurant Depots in the US - supplying wholesale goods to grocery outlets and restaurants. – TradeArabia News Service