Awarded by the Rady Family Foundation, the gift will be used to help recruit top faculty to the school, provide scholarships and fellowships to scholars, and fund strategic priorities. The school, which was established with a $30 million lead gift from the Radys a decade ago, aims to more than double the size of its faculty, which stands at twenty-seven full-time members. "It is very difficult to recruit the best and brightest faculty," Rady School dean Robert Sullivan told the San Diego Union Tribune. "We're competing with schools like Stanford, Berkeley, and UCLA, and we’re competing with industry."
Known for its focus on innovation, entrepreneurship, and collaboration, the school has had a positive impact on the state, with Rady School alumni-founded companies contributing an estimated $2 billion to the regional economy in 2014 alone.
"My close relationship with the Rady School of Management has enriched my life," said Rady, who added that the gift was driven by his "return on life" philosophy. "I didn't truly appreciate the speed or depth of impact that this program could have on a single individual and the multiplier effect that individual could have on others. I expect to see results compound and the graduates have an even greater impact in the future. For me that is the best ROL of all."