NEW YORK, July 29, 2013 /PRNewswire/ -- Columbia Business School announced today that two of its alumni have generously pledged $40 million to the School. Finance titans Arthur J. Samberg '67 and Mario J. Gabelli '67, both members of the School's Board of Overseers, pledged $25 million and $15 million respectively toward the construction of the School's innovative new Manhattanville campus.
"I am extraordinarily grateful to accept these generous pledges. Art and Mario's decades-long involvement at the highest levels of the School's leadership has helped put Columbia Business School at the forefront of management education," said Glenn Hubbard, dean of Columbia Business School. "Thanks to their support, our new Manhattanville campus will feature classrooms of tomorrow and other cutting-edge innovations that will allow us to continue preparing the next generation of business leaders to confront the challenges of the 21st century economy."
In explaining their donations, Samberg and Gabelli both highlighted their experiences at Columbia Business School as primary motivators.
"If there is one thing I have learned throughout my career it is that having good ideas are important, but the execution of good ideas is most crucial," said Mr. Samberg. "Columbia Business School recognizes this distinction, and as such they are working to construct a world-class facility that will enhance their ability to equip students with the knowledge and know-how to make a powerful impact on the world. I am proud to be a small part of these efforts and look forward to supporting their mission however I can."
"It is a fundamental tenet in our society that where you start in life on the ladder of opportunity should not dictate how high you can climb," said Mr. Gabelli. "My parents did not have a formal education. But they understood how important it was for me to attend Columbia Business School. I am extremely grateful for these opportunities and I want to do my part to give back to a dynamic school that has always empowered the aspirations of countless young entrepreneurs and business leaders."
The two pledges come at a time of outstanding momentum for Columbia Business School's Manhattanville efforts. The School recently received a $100 million donation in May, tying the largest gift in the history of the School.
Columbia Business School's new facilities will be designed by renowned New York architecture firm Diller Scofidio + Renfro in collaboration with FXFOWLE. The buildings will reflect the fast-paced, high-tech, and highly social character of business in the 21st century. The facilities will encompass more than 450,000 square feet and will offer multifunctional spaces that foster a sense of community — spaces where students, faculty members, alumni, and practitioners can gather to exchange ideas.
Gabelli is a sponsor of the School's Center on Global Brand Leadership, has endowed a finance professorship and is chairman and chief executive officer of GAMCO Investors Inc. He and the firm's team of research analysts identify stocks based on his proprietary Private Market Value (PMV) with a Catalyst methodology that is now an analytical standard. Gabelli is also chairman of LICT Corporation, and he is a member of the Economic Club of New York and The Winston Churchill Foundation.
Samberg is the founding sponsor of the School's Samberg Institute for Teaching Excellence. He is the manager of Hawkes Financial Services LLC and a member of Acadia Woods. Samberg is also a member of the board and executive committee of Tri Alpha Energy Inc., and chairman of the board of JetSuite LLC. He serves on the board of trustees and the executive and investment committees of New York-Presbyterian Hospital and on the board of directors of Historic Hudson Valley and Jazz at Lincoln Center, among others. He is also chairman emeritus of the Jacob Burns Film Center.
To learn more about Columbia Business School's multifaceted efforts to create the next generation of global business leaders, please visit www.gsb.columbia.edu.
About Columbia Business School
Led by Dean Glenn Hubbard, the Russell L. Carson Professor of Finance and Economics, Columbia Business School is at the forefront of management education. The School's cutting-edge curriculum bridges academic theory and practice, equipping students with an entrepreneurial mindset to recognize, capture, and create opportunity in a competitive business environment. Beyond academic rigor and teaching excellence, the School offers programs that are designed to give students practical experience making decisions in real-world environments. The school offers MBA, Masters, and PhD degrees, as well as non-degree Executive Education programs. For more information, visit www.gsb.columbia.edu.
SOURCE Columbia Business School