Iranian-born Lord David Alliance, who arrived in England with just $17 dollars in his pocket and became a textile tycoon, has donated $19 million to Manchester Business school, one of the largest donations of its kind. Lord Alliance is a Liberal Democrat Peer, and the business school will be named after him in recognition of the gift, as reported by the Financial Times.
There has been a series of high-profile donation to British business schools lately, including a $12.6 million from Natan Kirsh and $31.5 million from Idan Ofer, formerly Israel’s richest person. In addition, Imperial College London received $25.2 million from Brevan Howard, the hedge fund started by Alan Howard. While these donations are much less than given to stateside business schools, it still marks a trend of funding towards UK business schools. Lord Alliance said, “Manchester is a city that has done so much for me, and this is my opportunity to make a meaningful difference to the next generation of managers and entrepreneurs.”