ST. LOUIS - St. Louis University has announced it received its largest donation in 200 years today. The $50 million donation comes from St. Louis philanthropists Dr. Jeanne and Rex Sinquefield.
The donation will fund a new Saint Louis University Research Institute which is set to serve as the focal point for SLU's strategic goal of growing both the scale and eminence of its research and scholarship. The gift will also establish the Sinquefield Center for Applied Economic Research as well as provide annual support for SLU's chess team.
Rex Sinquefield said in a statement, "Saint Louis University was instrumental to my success in life. I want generations of Saint Louis University students to enjoy the same opportunity that I had. Jeanne and I are fortunate and happy to give this gift to my alma mater. We know it will help propel Saint Louis University and its students to higher levels of excellence in scholarship and research."
Rex Sinquefield was born in St. Louis and graduated from Bishop DuBourg High School. After three years in the seminary, he decided not to pursue priesthood and enrolled in St. Louis University. There he earned bachelor's degrees in business and philosophy and earned an MBA from the University of Chicago.
Sinquefeild co-founded the investment firm Dimensional Fund Advisors, which today has more than $525 billion in global assets.
The gift comes after St. Louis University's most successful fundraising year ever, which finished at $98.6 million on June 30 for the 2017-2018 fiscal year.