Wharton School Announces $5 Million Gift to Support Sports Business Initiative

The Wharton School at the University of Pennsylvania has announced a $5 million gift from alumni Julie Taffet Moelis and Kenneth D. Moelis in support of the Wharton Sports Business Initiative.

A collaboration among business leaders, Wharton faculty, and students, the initiative generates and disseminates knowledge about the sports industry through educational programs, strategic corporate partnerships, high-level student consulting assignments, global outreach, and research. The Moelises' gift, which Wharton School dean Thomas Robertson called "a testament not only to a proud tradition of alumni leadership...but also to the importance of supporting emerging research in such areas as sports business," will provide both term and endowed funding for the program.

Ken Moelis, founder and CEO of Moelis & Company, an investment bank, received received an MBA degree from Wharton in 1981 and currently serves on the school's board of overseers. Moelis's father and two siblings also graduated from the school, and the couple's two eldest sons are now enrolled there. "We were inspired to make a commitment to the Wharton Sports Business Initiative because it is a priority in the Campaign for Wharton and consequently for the future of the school," said Moelis. "For us, philanthropy is very much a family affair, and we all agree that the sports industry is an important and emerging field of study in business education and research."