News Summary
Bruce Jacobs has donated $60 million to the University of Pennsylvania’s Wharton School, establishing the largest single gift in its history. This donation will fund the Dr. Bruce I. Jacobs Master of Science in Quantitative Finance program, set to start in 2026. The program will focus on quantitative methods, machine learning, and artificial intelligence, preparing students for careers in asset management. With leading firms advising the curriculum, the initiative aims to respond to the evolving needs in finance education.
New York City – Bruce Jacobs, co-founder of Jacobs Levy Equity Management, has announced a groundbreaking donation of $60 million to the University of Pennsylvania’s Wharton School, marking the largest single gift in the institution’s history. This substantial contribution will establish the Dr. Bruce I. Jacobs Master of Science in Quantitative Finance program, the first new academic degree launched by Wharton in the last 50 years.
The innovative program will be available to Penn undergraduates and is set to commence in the fall of 2026. Students enrolled in this master’s program will be required to complete an additional year of study, which will emphasize essential topics such as quantitative methods, machine learning, artificial intelligence, and financial markets. The initiative is specifically designed to prepare graduates for careers within the rapidly evolving sector of quantitative asset management.
As part of the program’s development, leading firms such as Citadel, Millennium, and Susquehanna will partake on the program’s advisory board, helping to shape the curriculum and ensure it meets industry standards. The curriculum will blend foundational quantitative finance courses with a range of electives, providing students with a well-rounded education. An experiential component includes a final-semester research project coordinated with trading firms, allowing students to apply their knowledge in a real-world context.
With this donation, Jacobs’ total contributions to Wharton exceed $80 million. His previous donations include $12 million for the establishment of the Jacobs Levy Equity Management Center and an additional $8 million toward a quantitative finance MBA major at the school. This ongoing commitment highlights Jacobs’ dedication to enhancing educational opportunities in asset management.
Erika James, Dean of Wharton, emphasized that the new program represents a significant innovation in the school’s teaching methods. The program’s design will allow students from all four of the university’s undergraduate schools to enroll, promoting interdisciplinary collaboration and broadening access to advanced financial education.
To support students in their studies and career aspirations, the program promises to provide a variety of resources, including a class manager, internship opportunities, and work placement programs. This comprehensive support system is designed to bridge the gap between theory and practical application, ensuring students emerge fully prepared for challenges in the financial industry.
The introduction of the Dr. Bruce I. Jacobs Master of Science in Quantitative Finance comes at a time when the demand for skilled professionals in quantitative finance is on the rise. Institutions like Wharton are positioning themselves at the forefront of finance education, keen to respond to this growing need.
It is noteworthy that this donation follows recent concerns raised by Jacobs regarding antisemitism at the University of Pennsylvania. Going forward, he has made it clear that his future donations will depend on the university’s commitment to fostering a safe and inclusive environment for all students.
The inaugural cohort for the Master of Science in Quantitative Finance program is expected to be selected for the fall 2026 term, underscoring Wharton’s commitment to advancing education in the financial sector while preparing the next generation of leaders. As the finance landscape continues to evolve, this new program aims to cultivate a robust pool of talent equipped with the necessary skills to thrive in an increasingly complex marketplace.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- The Daily Pennsylvanian
- Inside Higher Ed
- Poets & Quants
- Bloomberg
- Business Insider
- Wikipedia: Quantitative Finance
- Google Search: Quantitative Finance
- Google Scholar: Quantitative Finance
- Encyclopedia Britannica: Quantitative Finance
- Google News: Quantitative Finance
Author: STAFF HERE PHILADELPHIA WRITER
PHILADELPHIA STAFF WRITER The PHILADELPHIA STAFF WRITER represents the experienced team at HEREPhiladelphia.com, your go-to source for actionable local news and information in Philadelphia, Philadelphia County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mummers Parade, Philadelphia Flower Show, and Thanksgiving Day Parade. Our coverage extends to key organizations like the Greater Philadelphia Chamber of Commerce and United Way of Greater Philadelphia, plus leading businesses in telecommunications, food services, and healthcare that power the local economy such as Comcast, Aramark, and Children's Hospital of Philadelphia. As part of the broader HERE network, we provide comprehensive, credible insights into Pennsylvania's dynamic landscape.
