By James Pierson
That $70 million is actually two separate gifts: $25 million from a (formerly) anonymous donor going to the university’s Antoinette Westphal College of Arts & Design (www.drexel.edu/westphal); and another $45 million from alumnus Bennett LeBow to fund a new building for its business school.
The design school donor, who apparently wished to remain anonymous, has been outed: He’s Richard A. Hayne, the founder and chairman of Urban Outfitters, who is said to be one of the richest men in America. Though he’s not a Drexel alumnus, Hayne is a Drexel trustee, and his leadership gift includes a challenge to the University to raise an additional $30 million for the Westphal College.
We sympathize with Hayne’s presumable frustration at being de-anonymized as the design school’s benefactor. But credit where credit is due – want it or not.
Drexel’s LeBow College of Business (www.lebow.drexel.edu) finds itself on the receiving end of the generosity of alumnus LeBow, who as you might guess from the name of the business school, is the man who originally endowed it in 1999 with a gift of $10 million. His recent additional $45 million represents the largest donation Drexel University has received from a single donor. LeBow is Chairman of the board of Borders Books and The Vector Group.
These two substantial gifts are just further proof that there is money out there…