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University of Illinois receives $150M, its largest gift ever

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The CEO of Chicago private equity firm Madison Industries donated $150 million to University of Illinois for its largest gift ever.

The donation from Gies and his wife Beth creates the Gies College of Business at the university's Urbana-Champaign campus.

The donation will be used for new graduate programs and for “technology to democratize education,” according to school officials.

Read more from the Chicago Tribune.

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