Central European University in Budapest, Hungary, has announced a $202.4 million endowment gift from Hungarian-American financier and philanthropist George Soros.
The gift, which brings the university's endowment to $476.2 million, follows a decision earlier this year by the Hungarian government to grant CEU accreditation as a Hungarian university, in addition to its existing American accreditation. Graduates of its dual-accredited programs receive both American and Hungarian degrees. Currently, the university has more than one thousand students from nearly sixty countries.
"CEU has a unique dual identity and can serve as a bridge across many divides," said Soros. "The increase in its endowment provides CEU with the resources and stability it needs to continue to grow into a world-class research and teaching institution aligned with a mission of promoting open societies."
Soros, who founded the university in 1991, also pledged an additional $23.8 million for the CEU business school.