Northwestern University receives $10 million for family enterprises

Northwestern University receives $10 million for family enterprises

Northwestern University has announced a $10 million gift from the Singapore-based Tanoto Foundation in support of family enterprise education.

Made in honor of clinical professor emeritus John L. Ward, the gift will endow the Center for Family Enterprises at the Kellogg School of Management and support the center's efforts to address the challenges faced by business-owning families, expand its educational offerings, advance research initiatives, and engage scholars to better inform the field. In recognition of the gift, the center will be renamed the John L. Ward Center for Family Enterprises.

Ward, who recently stepped down from the foundation's board of advisors, served as the center's co-director for nearly two decades and was among the first scholars to apply science to the field of family enterprise.

"Professor John Ward is one of the great pioneers in the field of family enterprise research — his evidence-based work has created groundbreaking insights into the science and dynamics of thriving family businesses and philanthropies," said Sukanto Tanoto, co-founder of the foundation. "We are so pleased to honor him and to further the mission of the Ward Center."

"The vast majority of businesses around the world are family businesses, and they drive significant innovation and growth in our global economy," said Francesca Cornelli, dean of the Kellogg School. "With the generous support of the Tanoto Foundation and the Tanoto family, the Kellogg School of Management will continue to expand on the Ward Center's innovative, world-class work, building on the extraordinary foundation laid by Professor Ward."