The University of Southern California has landed its largest single donation ever. An alumnus has contributed $200 million.
The historic gift comes from David Dornsife, the head of a steel fabricating company, and his wife Dana, who's in the biopharmaceutical industry. The couple made its $200 million gift to USC without restrictions.
University trustee David Dornsife is a 1965 graduate of the business school and is chairman of steel contractor the Herrick Corporation.
USC President Max Nikias calls the contribution a "transformative" gift. He says it will boost the hiring and research in the liberal arts as most higher education philanthropy has targeted the sciences.
The university’s biggest school will be renamed the USC Dana and David Dornsife College of Letters, Arts and Sciences.
Before this gift, USC's single largest donor was "Star Wars" creator George Lucas, who gave $175 million to the film school.