Billionaire investor Ronald Perelman donated $25 million to the University of Pennsylvania to create a new home for the political science and economics departments.
The renovated space will be named the Ronald O. Perelman Center for Political Science and Economics, Philadelphia-based Penn said today in a statement.
“This gift underscores my deeply held belief that our next generation must be given the tools to not only understand but positively impact government and the increasingly complex global economy,” Perelman, 70, said in the statement.
Perelman holds undergraduate and graduate degrees from Penn’s Wharton School. Among his previous donations was $20 million to create the Perelman Quadrangle, which paid for building restorations in Penn’s historic core. Perelman is chairman and chief executive officer of MacAndrews & Forbes Holdings Inc., which invests in industries including consumer products, entertainment and financial services.
In 2011, Perelman’s parents gave $225 million, to Penn’s medical school, the largest single gift in the school’s history.
To contact the reporter on this story: Janet Lorin in New York email@example.com.
To contact the editor responsible for this story: Lisa Wolfson at firstname.lastname@example.org.