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Penn Gets $25M Gift For Politics, Economics Departments

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PHILADELPHIA (AP) — The University of Pennsylvania has received $25 million to create a new home for its departments of political science and economics.

The gift announced Monday comes from Ronald Perelman, a philanthropist and chairman of cosmetics giant Revlon Inc. He’s also a trustee and alumnus of the Ivy League school in Philadelphia.

Political science and economics are two of Penn’s most popular majors. The funds will allow the departments to move into a building together in the heart of campus.

Perelman says in a statement that students must be given the tools to understand and make a positive impact on government and the global economy.

His parents, Raymond and Ruth Perelman, gave $225 million to Penn’s School of Medicine in 2011. It’s the largest donation in university history.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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