Harvard University and Harvard Business School Receive $40 Million Donation

Nitin Nohria, Professor, Dean of the Faculty, Harvard Business School, Angela Chao, Deputy Chair, Foremost Group, May Chao, The Honorable Elaine L. Chao, Dr. James Si-Cheng Chao, Chairman, Foremost Group, Christine Chao, Grace Chao, and Drew Faust, President of Harvard University; Lincoln Professor of HistoryPhoto: Susan Young

From Dr. James S.C. Chao and Chao Family Foundations

BOSTON— Harvard University and Harvard Business School have received a $40 million gift from a Dr. James Si-Cheng Chao and Family Foundation. The gift was given in tribute to the life and legacy of the late Ruth Mulan Chu Chao, beloved matriarch of this most prominent and accomplished Chinese-American family. It will support both students in the Master in Business Administration (MBA) program and participants in the School’s Executive Education programs. The Chao family — the only one in the School’s history to have had four daughters attend — poignantly made their gift during the 50th anniversary celebration of women in Harvard’s full–time MBA program and the 375th anniversary of Harvard University.

“Ruth and I had an extraordinary life for 60 years before she returned to the Lord,” Dr. James S. C. Chao said. “I am eternally grateful for the unconditional love, trust and confidence she showed in me throughout our life and for always supporting and encouraging me in all our endeavors. Because Ruth devoted her life to promoting excellence in education and enhancing U.S.-China cultural exchanges, she embodied the spirit of the love of learning in this university community. I would like to dedicate this contribution to memorialize and honor my beloved wife and soul mate, Ruth Mulan Chu Chao.”