Rady family donates $100 million to UCSD - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Rady family donates $100 million to UCSD

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LA JOLLA (CNS) - Businessman and philanthropist Ernest Rady and his wife, Evelyn, pledged $100 million on Tuesday to UC San Diego today to help recruit and retain faculty at the Rady School of Management.

The money will also fund strategic priorities at the school that bears their name, according to UCSD.

The Radys and the Rady Family Foundation founded the school in 2004 with a $30 million lead gift and later provided $5 million for expansion.

"The Rady School is an integral part of UC San Diego and a vital, entrepreneurial component to San Diego's science and technology communities,"

UCSD Chancellor Pradeep Khosla said. "The generous commitment from Evelyn and Ernest Rady and the Rady Family Foundation allows the school to continue its tradition of success and impact."

In a statement, Ernest Rady said the first 10 years of the school have been "magnificent" and exceeded expectations.

Rady School of Management students and graduates have created 82 companies that last year pumped $2 billion into the region's economy, according to UCSD.

The Radys have also provided significant financial support for Children's Hospital, which also bears their name.

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