Investment analyst Bill Gross and his wife, Sue Gross, donated $40 million to UC Irvine last week to establish a nursing school on campus. As a result of the Gross couple’s donation, UC Irvine will become the fourth UC campus with a School of Nursing, alongside UCLA, UC San Francisco and UC Davis. The timeline for the UC Irvine nursing school’s establishment is, as of yet, undetermined.
The $40 million gift marks the largest single donation in UCI history, and the largest donation in the history of the Gross couple’s philanthropic career.
The $40 million gift is also the latest in the Laguna Beach couple’s string of donations throughout Southern California (specifically in the Orange County area) over the past decade.
With the $40 million designated for a UCI nursing school, the university hopes to expand their current nursing program, as it currently contains only 202 total graduate and undergraduate students. UCLA, by contrast, had 566 students enrolled in its School of Nursing last fall, and UC San Francisco totaled 519 students in its School of Nursing as of fall 2013.
Bill Gross, financial analyst and co-founder of Pacific Investment Management, is worth over $2.3 billion, according to Forbes. He and his wife have donated over $100 million in total to a variety of healthcare-related causes, including a $20 million donation to Orange County’s Hoag Memorial Hospital in 2005, and a previous donation of $10 million to UC Irvine to create the Sue & Bill Gross Stem Cell Research Center in 2006.
Like the Sue & Bill Gross Stem Cell Research Center, the UC Irvine School of Nursing will be named after the philanthropic couple. Plans for establishment of the school and expansion of nursing school faculty will need to be approved by UC Regents before they can be finalized.