Simon Fraser University (SFU) says it is the largest gift of its kind in Canadian history.
A $34.1 million donation from the chairman and CEO of London-based IHS Markit and his family will financially support 10 SFU students per year who may not otherwise be able to afford an education, including those from equity-deserving groups.
Lance Uggla graduated from SFU's Beedie School of Business in 1985. The gift behind the Uggla Family Scholarship is the largest gift in SFU history.
“I am a father of four amazing children who are all building their careers from a similarly strong foundation. The Uggla Family Scholars that this program will support, all from less advantaged backgrounds, will equally be given the opportunity to excel in the years ahead. I am excited to get started and help the first students begin their journeys," Uggla said in a news release.
The scholarships will run in perpetuity starting in September 2021. For the first year, they are available exclusively to students enrolled in business or applied sciences programs.
Burnaby-raised Uggla and his family have also donated £23.4 million (CAD$40 million) for a similar initiative at the London School of Economics, where Uggla earned his master's degree.
"I’ve always believed that a good education is the foundation of a successful business career," Uggla tweeted about the announcement.
"I believe that to build stronger, better, and fairer businesses for the future, companies must emphasize the importance of attracting and retaining a diverse talent pool of exceptional recruits."