Florida State president Dr. Richard McCullough and school administrators announced a “transformative” $65 million gift from billionaire Dr. Herbert Wertheim for the naming rights of the newly constructed College of Business.
“This is a very monumental gift to the university,” McCullough said.
The new business school is across the street from the Donald L. Tucker Center. McCullough said this is the largest endowed gift in FSU history, with $50 million in endowed funds and $15 million toward construction costs.
Business school dean Michael Hartline said the negotiations with Wertheim, who is a Forbes 400 billionaire, took years and that the deal is unusual because of the large amount of discretionary funding.
“It's extremely meaningful as a business school alum for me,” BOT chairman Peter Collins said.
The gift is second only to the $100 million contribution from the Jim Moran family toward the school of entrepreneurship in Dec. 2015.
McCullough called Wertheim a serial inventor and investor in colleges. He is an optometrist, inventor, businessman, philanthropist and the founder and president of Brain Power Incorporated (BPI), the world’s largest manufacturer of optical tints. McCullough noted that Wertheim as a youth would run away from home and from time to time would live with the Seminole Tribe of Florida.
“My belief in the transformative power of education and healthcare inspires me every day, and I am truly excited to partner with Florida State University to help lift the College of Business to new heights,” Wertheim said in a statement released by FSU after the announcement. “Together, we will empower students and future leaders to drive meaningful progress, advance innovation in healthcare and business, and create lasting opportunities that benefit our communities and the world.”
The business school is celebrating its 75th anniversary in 2025. Of note, some of the funding goes toward endowed professors and includes a few who will teach sports business-related classes.
FSU's soccer-softball complex will be renamed Price Family Team Building after a $1 million gift from Scott Price and his family. Price, an FSU graduate and Tampa businessman, is also an incoming chair of the FSU Foundation.
Boosters president Stephen Ponder said $500,000 has been delivered, with $500,000 more to come. The Price Family was also noted for its prior gifts toward FSU athletics.
Les and Ruth Akers also made a gift toward the planned Housewright Renovation and Expansion at the FSU College of Music. The Akers family is a longtime donor toward FSU and the Seminoles’ athletics teams.
No discussion was made of naming rights for Doak Campbell Stadium at Monday’s meeting. The next FSU BOT meeting will be Feb. 24-25.
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