The Tuck School of Business is pleased to announce that Paul Raether T’73, TP’03 and his family have donated $15 million to the school in support of scholarship funding.
The gift ties the record for the largest philanthropic donation ever given to Tuck.
“This gift will have a tremendous impact on one of Tuck’s most important strategic priorities: enrolling incoming students who aspire to wise leadership, and who will contribute to and thrive in Tuck’s distinctly immersive learning community,” said Luke Anthony Peña, executive director of admissions and financial aid.
This historic gift comes at the end of a banner year for scholarship fundraising for Tuck. Tuck alumni in 2017 have pledged or given $20 million for scholarship support, which will substantially strengthen Tuck’s ability to enroll outstanding students who, absent funding, might not attend Tuck.
The decision to give this gift was made by Raether and his wife Wendy, and their three daughters and their husbands, including Alexa Raether Maddock T’03 and her husband Fernando Maddock, Jr. T’03. The Raethers are long-time and broad supporters of Tuck who have benefited nearly every aspect of the school. Their philanthropy at Tuck includes but is not limited to prior scholarships, faculty endowments, facilities, Tuck Annual Giving, and the innovative Next Step: Transition to Business program for military veterans and elite athletes.
“Over the last 30 years, education has been the biggest emphasis of charitable giving by my wife and me,” said Raether, a member of Kohlberg Kravis Roberts & Co. since 1986, “and that really came from both of our parents. Tuck has been a wonderful institution for us and for my daughter and son-in-law, so we are motivated to actively support it. We want Tuck to attract the best and the brightest students, and hopefully this gift will help.”