PHILADELPHIA (CBS) — Drexel University just got a huge (and history-making) donation for a new building for its business school.

Drexel’s College of Business is already named for Bennett LeBow. Now, the 72-year-old West Philly native is giving his alma mater $45 million — one of the largest gifts to any US business school, and the biggest ever to Drexel.

“It’s a magnificent kind of gesture,” says LeBow business school dean George Tsetsekos, who adds that the donation will raise Drexel’s profile around the world.

“We anticipate immediately after the completion of the building that the business school will be much more recognized not only at the national level, but much more recognized globally, internationally,” he said.

LeBow credits the university’s emphasis on real-world experience for giving him his start.  He’s now chairman of the board at Border’s, the bookstore chain.

Reported by Margie Smith, KYW Newsradio 1060.

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