$50 million latest gift to university announced by William P. Carey II brings his family’s donations to school over the $125 million mark
William P. Carey II, Chairman and President of the W.P. Carey Foundation, announced a $50 million gift to Johns Hopkins University’s Carey Business School.
The donation will expand the school’s MBA programs, boost entrepreneurship efforts, and help drive economic growth in Baltimore.
This latest gift brings the foundation’s total support for the Carey Business School to $125 million since its founding.
The original $50 million commitment in 2006–2007 helped launch the school, and a $25 million gift followed in 2020. It ranks among the largest private donations ever made to a U.S. graduate business school.
“This latest investment reflects our deep, ongoing commitment to business education that combines academic excellence with real-world impact,” said William P. Carey II the announcement.
“Our goal at the W.P. Carey Foundation is to prepare generations of professionals with a calling for leadership in business and civic life. Baltimore has long been central to that mission, and we are proud to support educational pathways that foster opportunity, growth, and lasting socioeconomic impact in the city and beyond.”
The $50 million will support several key areas.
A major focus is expanding entrepreneurship programming for students at all levels. This includes more funding for startup accelerators and stronger connections to Johns Hopkins Technology Ventures and the Pava Marie LaPere Center for Entrepreneurship.
The aim is to help turn university research — especially in health care, biotechnology, and related fields — intocompanies that start and stay in Baltimore, creating local jobs and strengthening the economy.
The gift will also grow the school’s full-time and accelerated MBA programs. This includes recruiting a larger and more diverse group of students, offering more scholarships, and creating new experiential learning opportunities.
School leaders expect these changes to raise the program’s national profile and better prepare graduates for the workforce.
In addition, the funds will create new endowed professorships to attract top faculty in areas such as entrepreneurship, innovation, finance, and health-care management.
These professors will build stronger partnerships with industry, government, and nonprofit organizations across the region.
The school is positioning itself as a leader in the “business of health,” leveraging Johns Hopkins’ strengths in medicine, public health, and engineering.
Carey Business School Dean Alex Triantis welcomed the gift, saying it will give students and faculty the resources needed to build ventures that solve real problems while anchoring economic growth in Baltimore. Maryland Governor Wes Moore and local business leaders also praised the announcement for its potential to support a more innovative and inclusive economy.
The W.P. Carey Foundation was established in 1990 by the late real estate financier and philanthropist Wm. Polk Carey. It has a long history of supporting business and legal education at universities, including Arizona State and the University of Pennsylvania.
After Wm. Polk Carey’s passing in 2012, the foundation — now led by his grand-nephew William P. Carey II and other family trustees — has continued this work with annual grants focused primarily on education.
Located in Baltimore’s Harbor East neighborhood, Johns Hopkins Carey Business School emphasizes interdisciplinary learning and real-world problem-solving.
This new support will accelerate those efforts, helping more students launch companies, gain practical experience, and contribute to their communities.
William P. Carey II added, “We believe the next chapter for the Carey Business School will be defined by the entrepreneurs and leaders it helps create — professionals who will strengthen Baltimore’s economy, innovate in health care and beyond, and carry forward a legacy of impact that began more than a century ago with our family’s ties to this great city.”
The gift takes effect immediately, with new programs and initiatives planned for the coming academic year. University officials expect to share more details on specific uses and timelines in the months ahead.