Local Philanthropist Ernest Rady Pledges $1 Million Matching Gift to Fund Fellowships
Technology Entrepreneur Fred Luddy Accepts Challenge and Donates $200,000
Ernest Rady, local philanthropist and Rady School of Management naming donor, pledged a $1 million matching gift donation in May 2014. Rady has pledged to donate one dollar for every sixty cents raised by the school for fellowships, up to $1 million. In July 2014, local technology entrepreneur Fred Luddy accepted Rady's challenge and donated $200,000. The fellowships provide merit-based funding for talented students interested in attending the Rady School.
"Ernest Rady's generosity will enable the Rady School to compete with other top-tier business schools for the best and brightest MBA students," said Rady School Dean Robert S. Sullivan. "We are delighted that Fred Luddy has provided a gift in light of Ernest Rady's challenge to invest in fellowships for very talented students. Without these fellowships, this type of student recruitment would not be possible. Attracting an even greater number of talented students to the Rady School enhances the learning experience and success of all of our students."
An outstanding school is built on standout students. A Rady School MBA education translates student talent into impact – by way of new business creation, increased job opportunities and commercialization of life‐changing discoveries. Attracting the best and brightest students is critical to the Rady School's mission to develop leaders for innovation‐driven organizations and industries. As the Rady School enters its second decade and continues to educate the next generation of innovators, it is more important than ever to bring top students to the program. Enrolling these individuals, however, requires more than an excellent reputation — it takes financial support that enables candidates to select the Rady School over peer campuses vying for their enrollment. Fellowships also provide support that relieves some of the financial burden — allowing students the freedom to capitalize on internships and independent study projects enhancing learning and advancing their careers.
Private support offers prospective students immediate assistance in financing their MBA and making the decision to attend the Rady School. Such contributions help the school develop these entrepreneurial business leaders whose work contributes to building a strong and sustainable economy in turn transforming individual lives and benefiting whole communities. Even modest charitable contributions, pooled with gifts from others, can achieve big results – and begin a lifetime of philanthropy with impact. For more information about supporting the Rady School of Management, please visit http://rady.ucsd.edu/invest/.