The University of Chicago has announced a $100 million gift from alumnus Ross Stevens (PhD ’96) in support of the PhD Program at the Booth School of Business.

Awarded in celebration of the program’s 100th anniversary, the gift will support school efforts to attract high-quality doctoral students, increase matriculant stipends, boost research support for data and computing, and provide additional financial support for the top incoming students through the Stevens Fellowships program. In addition, the gift will support full-time mental health support for students; bolster personalized coaching programs in wellness, public speaking, and professional development; and establish a new alumni mentoring initiative—to be chaired by Stevens—to formally connect current PhD students with alumni across academia, government, and industry. In recognition of the gift, the PhD Program will be renamed the Stevens Doctoral Program.

“I believe that, over time, the quality of a business school’s PhDs determines the quality of its faculty, which, in turn, determines the quality of the school itself,” said Stevens, founder and CEO of the New York City-based Stone Ridge Holdings Group, which is focused on alternative asset management, reinsurance, and bitcoin. “Booth is already in an exceptionally strong position, but the students of tomorrow demand we don’t rest on our laurels today. By making Booth the unquestionable destination of choice for the very best PhD applicants, this gift adds rocket fuel to Booth’s long-term mission.” 

“Ross’s business innovations are at least matched by his philanthropic innovations,” said Madhav Rajan, Chicago Booth dean and the George Pratt Shultz Professor of Accounting. “He’s exceptionally generous, but he also brings focus and clarity of thought regarding how the multiplier effect of educational excellence, economic liberty, and free markets can transform lives.”

(Photo credit: Getty Images/John Boomsma)