Wharton School receives largest gift ever from alumnus Bruce Jacobs

In an unprecedented show of generosity, the Wharton School at the University of Pennsylvania and the University of Massachusetts-Amherst have each received record-breaking donations from their alumni. Recently, Bruce Jacobs, an esteemed alumnus of the Wharton School, contributed $60 million, marking the largest single gift in the institution's history. This profound contribution will be utilized to establish the Dr. Bruce I. Jacobs Master of Science in Quantitative Finance (MSQF) program, which aims to align scholarly learning with practical experience in the fields of data science and financial markets. The MSQF program is the first new degree offering by Wharton in half a century, which underscores the commitment to innovation and leadership in quantitative finance education. Students enrolled in this program will complete six core courses and participate in hands-on research projects focused on real-world issues experienced by quantitative asset management firms. This initiative is expected to bridge theoretical knowledge with real-world application, equipping students with the skills necessary to lead in a rapidly evolving industry. On a parallel note, the University of Massachusetts-Amherst has also achieved a significant milestone through a remarkable $50 million contribution from alumni Dan Riccio, a graduate who has made a remarkable career in the tech industry. This donation, the largest ever for UMass Amherst, will primarily support the university's engineering programs and be allocated over a duration of ten years. In recognition of his generous donation, UMass will designate its engineering college as the Daniel J. Riccio Jr. College of Engineering. Riccio’s donation highlights a commitment to fostering an innovative engineering education environment, as it will facilitate the funding of an endowment and several key initiatives aimed at enhancing the engineering curriculum. Additionally, this funding includes allocations toward a deanship, a chair in biomedical engineering, and establishing a research fund for faculty fellowships. Both gifts represent a lasting impact not only for their respective institutions but also signify how alumni commitment can significantly enhance educational opportunities and resources for future generations of students.