David Booth, a graduate of the University of Kansas, donated $300 million to support athletics programs at the university. In the photo, a statue of the late KU basketball coach Phog Allen stands on campus outside Booth Family Hall of Athletics. (Tim Carpenter/Kansas Reflector)
LAWRENCE — The founder of a large investment firm pledged $300 million to the University of Kansas in what was described as the largest gift in the university’s history and touted as one of the biggest single donations in the history of college athletics.
David Booth, the Austin, Texas, founder of Dimensional Fund Advisors, was responsible for a $50 million donation in 2017 to kick off renovation at what became David Booth Kansas Memorial Stadium. In 2010, he presented KU with basketball inventor James Naismith’s original 1891 copy of the 13 basic rules of the game. The document is in Booth Family Hall of Athletics next to Allen Fieldhouse.
“One of life’s greatest privileges is being able to give back to the people and places that gave so much to you,” Booth said in a statement. “KU and Lawrence are a big part of my story, and it means a lot to support the community that invested in me.”
In terms of the $300 million contribution to KU, Booth established a $75 million challenge grant to help raise money for the next phase of construction at Memorial Stadium and the Gateway District development adjacent to the football complex. The overall commitment from Booth also provided an ongoing source of income for KU athletics.
“David’s unprecedented generosity is transformative now and for our future,” said Travis Goff, athletics director at KU. “There is no more generous and impactful Jayhawk.”
The Gateway District’s second phase would add a hotel, retail and restaurant space as well as student housing, parking and an outdoor plaza.
“David has always believed in the power of athletics to unite communities, generate Jayhawk spirit and create lasting bonds between alumni, students and fans,” said KU chancellor Doug Girod.
Booth, 78, earned a KU economics degree in 1968 and a KU master’s degree in business in 1969. Two years later, he completed a master’s degree in business administration at University of Chicago. In 2008, he pledged $300 million to the business school at University of Chicago.
“Philanthropy, like investing, pays dividends over time,” Booth said. “Each gift compounds, creating opportunities not just for today, but for years to come.”
Booth grew up in Lawrence where his family lived on Naismith Drive near Allen Fieldhouse. At the age of 13, Booth attended his first football game by working as an usher. He later sold popcorn in the bleachers at Allen Fieldhouse.
He founded Dimensional Fund Advisors in 1981 to apply principles of financial science to asset management. In June, the firm had more than $850 billion in assets.
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