Ernest Rady donates $100 million to UCSD
SAN DIEGO (KUSI) – Ernest Rady donated $100-million dollars and a vision to UCSD on Tuesday.
Rady made the donation to a business school that started from the ground level eleven-years ago, but since then made great strides in innovation.
“I am overwhelmed with gratitude for how you have added meaning to our lives,” said Ernest Rady.
San Diego Philanthropist Ernest Rady thanked the administration, faculty, and alumni of the UCSD Rady School of Management.
He hopes his donation will educate the best students and recruit top professors from all over the world.
“The quality of faculty define the capacity of our ability to be excellent. That’s the core, and we need to be competitive,” said Bob Sullivan.
Ernest Rady’s $30 million gift established the school in 2004. It operates strictly on private donations, since this part of the university does not take state funds.
“The UC system has bumps along the road. California has bumps along the road, but the school that Dean Sullivan and folks have created has momentum. It is my pleasure and honor to give them a hand,” said Rady.
More than 80 companies have been launched since the school began, from mobile apps to the creation of genetic sequencing technology.
Pierre Sleiman, MBA Class of 2013, is the CEO of Green Agriculture.
His Encinitas based venture grows lettuce, kale, basil, spinach, all above ground, year-round, using one-twentieth of the land, and 80-percent less water than traditional farms.
He went from three to 30 employees.
Happy Living Lettuce is now in Von’s, Whole Foods and Jimbos.
“Networking the biggest thing I did here, from raising capital, to finding people to help me hire employees. All around, human factor,” said Pierre.
Pierre took a risk and it worked.
This donation, is not a risk though for Ernest Rady.
It’s an investment in San Diego’s future.
“It makes me proud. I’ve had a great career, I hope I’m not at the end of that career. If I can help others have a great career, that makes me feel very very good,” said Rady.
The School of Management at UC San Diego has 27 faculty members, and they hope to eventually double that number.
The school was recently given a top ranking from Bloomberg Businessweek.