(JTA) — Expatriate Israeli businessman Idan Ofer donated $40 million to the London Business School, the school’s largest-ever donation.
The donation announced Monday from the Idan and Batia Ofer Family Foundation is part of the school’s first comprehensive fundraising campaign, which is aiming to raise $160 million over the next five years.
The campaign will fund the transformation of Old Marylebone Town Hall in London into a new educational facility to be named The Sammy Ofer Centre in honor of Idan’s late father, a shipping magnate and philanthropist.
Idan Ofer, an alumnus of the school, recently relocated from Israel to London.
“It is a privilege to participate in helping the next generation of Israeli business leaders acquire the knowledge, experience, and ties at prestigious institutions like the London Business School,” he told the Israeli business daily Globes.