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University of Penn. Given $40M

May 13, 1998

PHILADELPHIA (AP) _ The University of Pennsylvania’s Wharton School has received $40 million from industrialist Jon M. Huntsman of Salt Lake City, who told his alma mater it may use the money as it chooses.

The business school said it has not decided how to spend the gift from the founder of Huntsman Corp., who delivered flowers and waited tables at a girls’ dorm to help pay his way through college.

``That’s a question that everybody is asking, and the real story here is that the donor has made a gift with absolutely no strings attached,″ Robert Mittelstaedt, a Wharton vice dean, said Tuesday.

The donation appears to be the largest single gift ever made to a business school, Wharton officials said.

``This is an extraordinary commitment and a real tribute to the tremendous generosity of Jon Huntsman and his family,″ dean Thomas Gerrity said.

Huntsman is chairman and CEO of the company he founded, the largest privately held chemical company in the United States, with annual revenues in excess of $5 billion and more than 10,000 employees at 81 sites worldwide.

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