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U.S. markets recover from steep losses
CHAMPAIGN, Ill., June 2 (UPI) -- Three-time University of Illinois graduate Thomas M. Siebel is giving his alma mater $100 million -- the largest gift in the school's history.
The Siebel Fund for Excellence in Science and Engineering will focus on issues such as alternative energy, bioengineering and stem cell research, the Champaign-Urbana (Ill.) News-Gazette reported.
"We're enormously grateful for the gift," Chancellor Richard Herman said Friday, calling Siebel's gift "a high watermark."
Herman announced the $100 million gift at a black-tie dinner Friday launching the university's Brilliant Futures campaign, which aims to raise $2.25 billion by the end of 2011.
Siebel earned degrees in history, business and computer science from the university, which awarded him an honorary doctorate.
In 1999 Siebel donated $32 million to the university for the Thomas M. Siebel Center for Computer Science. Siebel sold his software and engineering company, Siebel Systems, to Oracle for $5.85 billion in 2005.
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