The University of Hawaii's Shidler College of Business received its largest individual donation in the schools 110 year history.
Local businessman and university alumnus Jay Shidler donated $117 million in cash and real estate ground leases to the school Wednesday. That gift comes right after Shidler finished the last installment of a $111 million gift.
The latest gifts bring Shidler's total donations to the school to $228 million. He credits the school of business for his successful career.
Shidler says, the motive behind the donations is providing UH with options to better learning for students.
"My thought was, if I could give the university a gift with a highly predictable income stream — and this gift has a contractual income of about $2.1 billion — that's something you can plan for," Jay Shidler said.
The donation comes in part from ten ground leases in major mainland cities.
UH officials say the donation will provide a lasting source of capital for the Shidler College of Business. It will also serve as a potential investment model for other schools.
"We really hope to be one of the top business schools in the United States as a result of this gift and the ongoing support from Jay Shidler," Dean of UH's College of Business Vance Roley Said.
UH is planning to increase its scholarship opportunities as well as hire more top-notch faculty.