UTSA nets $20M gift from Carlos Alvarez, will rename business school in his honor
In a first for the institution, the University of Texas at San Antonio will rename the College of Business after Carlos Alvarez, after he and his wife, Malú, donated $20 million to the university, UTSA announced Wednesday.
The Carlos Alvarez College of Business will be the UTSA’s first college to be named after someone and the first business school in the University of Texas system named after a Latino, a UTSA spokesperson said. The $20 million gift is the second-largest in UTSA history.
The largest private donation UTSA received was the estate of Mary McKinney, which has grown to $30 million since first announced in 2010. The Alvarez gift is the largest “non-estate” gift the university has ever received, the spokesperson said.
UTSA received another large donation in 2018. Rackspace co-founder and Community Labs chairman Graham Weston donated $15 million to help fund construction of UTSA’s School of Data Science and National Security Collaboration Center in downtown. The university broke ground on the $90 million facility in January, with the other $75 million coming from UTSA’s permanent fund.
Read more: https://sanantonioreport.org/utsa-nets-20m-gift-from-carlos-alvarez-to-rename-business-school-in-his-honor/