DePaul University is receiving its biggest gift ever from a South Side native.
Richard Driehaus, chairman of Driehaus Capital Management LLC, is giving his alma mater $30 million to better the university’s business college, the Chicago Tribune reports.
The Catholic school will use the interest from the money to recruit and retain faculty at its College of Commerce, which will be renamed to the Richard H. Driehaus College of Business, and the Charles H. Kellstadt Graduate School of Business.
Rev. Dennis Holtschneider, DePaul’s president, approached Driehaus to make a big donation to the business school last June.
Holtschneider definitely got Driehaus’ attention. In the next 10 years, 48 of the college's 162 faculty members will retire amid a national shortage to replace them.
Driehaus committed to making the multi-million dollar endowment six months later in December, the paper reports.
The philanthropist was born in 1942 and grew up in a bungalow with his parents on the South Side.