AUC receives largest gift in its history from the Sawiris family

AUC receives over USD 30 mn gift from the Sawiris family: The American University in Cairo has received the largest philanthropic gift in its history — estimated to have a value of over USD 30 mn — from the Sawiris family, according to a press release (pdf).

In recognition of the gift, the institution has renamed its business school: AUC’s business school will from now on and in perpetuity be called the Onsi Sawiris School of Business in perpetuity to honor the “exceptional personal and professional legacy of the late Onsi Sawiris, a titan of business in the Middle East, founder of the Orascom Group and patriarch of the family.”

The parties involved: The gift was made possible by the NNS Foundation, the Naguib Sawiris Charitable Fund, Naguib Samih Sawiris, the Sawiris Foundation for Social Development, and Orascom Construction, according to the statement.

Where will the funds go? The funds will be allocated toward “scholarships, research, and a professorship in artificial intelligence/data science,” in addition to funding exchange programs with prominent US universities for students and faculty, including at the University of Chicago.

"By supporting AUC and exchange programs with top universities in the United States, we are brining exceptional students together to benefit from intellectually rigorous and truly global programs. Preparing future business leaders at AUC with the skills to adapt and be innovative is the best way to honor our father’s work ethic, values, and commitment to advancing Egypt,” Nassef Sawiris said in the statement.

"This gift is one of the many examples of impactful philanthropy from the Sawiris family. It reinforces AUC’s position as an institution that produces global-ready graduates with the career and life skills to make a positive difference in their communities and around the world," said Chairman of the AUC's Board of Trustees, Mark Turnage.