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Thursday, 26 October, 2000, 11:30 GMT 12:30 UK
Former student donates 27m

Imperial College, London has received a gift of 27m from one of its former students.

Dr Gary Tanaka, 56, has given 25m to build new accommodation for the college's management school and a further 2m to install the latest internet technology.

The gift is the largest personal donation in Imperial's 93-year history.


My gift is my way of saying 'thank you', as well as it being an investment in the future

Dr Gary Tanaka
Dr Tanaka, an American businessman, gained an MSc and a PhD in Applied Mathematics from Imperial in 1970.

He went on to make his fortune investing in new technology companies and is now principal and director of Amerindo Investment Advisors.

"My gift to Imperial College is my way of saying 'thank you', as well as it being an investment in the future: a future that is being dramatically shaped by profound technological advances," Dr Tanaka said.

The gift, he went on, would help the next generation of managers and entrepreneurs graduate "with the tools they need to succeed in the ever-changing world of business, commerce and technology".

'Strategic importance'

The new management school building is expected to be completed by 2004 and will be of "great strategic importance", according to director of estates at Imperial, Ian Caldwell.

Rector of Imperial, Lord Oxburgh said the college was deeply grateful for the donation, which would have "an enormous impact on the role of management and enterprise at the college".

Imperial College, an independent constituent part of the University of London, was founded in 1907.

It teaches science, engineering, medicine and management.

Imperial's management school was created in 1987. It specialises in three spheres: entrepreneurship and innovation, mathematical finance and health management.

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