$100 million gift from Larry and Beth Gies earns naming rights for university stadium

The University of Illinois has officially renamed its historic Memorial Stadium to Gies Memorial Stadium following a record-breaking $100 million gift from alumnus Larry Gies, one of the state’s most prominent philanthropists and the founder and CEO of Madison Industries.

The gift, which honors his late father, U.S. Army veteran Larry Gies Sr., is the largest ever made to the university’s athletics department and ranks among the most significant contributions to a college sports program nationwide.

Larry Gies, who grew up in Decatur, Illinois, built Madison Industries into a global conglomerate generating about $5 billion in annual revenue. With an estimated net worth of $1.5 billion, he has become a leading supporter of education and philanthropy in Illinois.

His philanthropic relationship with the university began in 2017, when he and his wife, Beth, donated $150 million to the business college, which was renamed the Gies College of Business. That gift transformed the school, fueling enrollment growth, scholarships, and innovations in online education.

Beth Gies, also a University of Illinois alumna, is president of The Gies Foundation and has long been active in educational and community initiatives. Together, the couple has raised their three children—Scott, Ryan, and Lauren—with a strong emphasis on service and philanthropy, continuing a multigenerational commitment to advancing education and social good.

The $100 million stadium gift cements the Gies family’s legacy on campus. University Athletic Director Josh Whitman called it transformational, noting that it secures the future of athletics while enhancing opportunities for student-athletes.

Beyond athletics, the Gies family continues to support youth programs and educational initiatives in the Chicago area, extending their influence well beyond the university.

With the renaming of Memorial Stadium, the University of Illinois not only celebrates a historic contribution but also honors a family whose philanthropy and values are set to inspire students, alumni, and communities for generations.