Fordham University has received a $25 million gift from a grateful alumnus.
The university, based in New York City, had a major impact on the life of Mario J. Gabelli, whose generous $25 million donation marks the opening of the public phase of Fordham's $500 million capital campaign. Gabelli is a second-generation American and was the first member of his family to attend college. Now he is the CEO and chairman of GAMCO Investors, a diversified asset management and financial services company.
"Education is the great leveler, the engine of America's meritocracy, and it must remain so for the country to compete in the global economy," Gabelli said, expressing his gratitude to the university. "My grandfather died in a coal mining accident in western Pennsylvania one hundred years ago, and my family always stressed the importance of education as a stepping stone to creating a better life. I am proud and blessed to be able to contribute to that effort."
The $25 million gift is the largest in the school's history. It will be used to fund student scholarships and faculty chairs, as well as to establish the Center of Global Investment Analysis, which will work to enhance the study and understanding of global capital markets. In recognition of Gabelli's incredible generosity, Fordham will also rename its undergraduate business program the Gabelli School of Business.
Including Gabelli's donation, Fordham has raised $364.8 million toward its campaign goal.