Harvard Business School (HBS) has announced a $24 million commitment from alumni Robert Kraft (MBA ’65), founder, chairman, and CEO of the Kraft Group and the Kraft Family Foundation, and his son Jonathan (MBA ’90), president of the Kraft Group. 

The gift will establish the Robert K. Kraft Family Fellowship Fund, which aims to make an HBS education more accessible to talented students who, without financial aid, would be unable to enroll in the MBA program. To that end, the gift will provide support for first-generation college students from lower socioeconomic backgrounds or other backgrounds that are underrepresented at HBS. In recognition of the Krafts’ support, the school has named the financial aid office and director of MBA financial aid position in the family’s honor. 

“Harvard Business School has a long and proud history of educating leaders who make a difference in the world, among them Robert and Jonathan Kraft,” said Harvard president Lawrence S. Bacow. “Through this extraordinary act of philanthropy, father and son ensure that more lives are transformed as theirs have been. The university is grateful for their generosity and for the deep care with which they support the members of our community.” 

“Being part of HBS changed my life, and I am deeply grateful for the chance to help others benefit from the transformational power of this experience,” said Robert Kraft. “Our family is proud of the extraordinary difference that our fellowship recipients make in the world.” 

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