Nobel Laureatte Harry Markowitz, a recipient of the 1990 Nobel Memorial Prize in Economic Sciences, is donating $4 million toward the University of California, San Diego’s Rady School of Management.
The money will go toward the Barbara and Harry Markowitz Endowed Fellowship, which will support students in the fields of mathematics, science, finance and operations research, according to a statement from Rady School News.
Markowitz is also donating his Nobel Prize in economics, two other prize medals to the school, and a pocket watch he has kept since 1950, according to the school.
Markowitz is known for his Modern Portfolio Theory in economics and investing, and at 89-years-old, runs a consulting business in San Diego called the Harry Markowitz Company.
Markowitz has been an adjunct professor at the Rady School of Management since 2007, and said he considers the school his home.
Markowitz said in a statement he is delighted to leave his legacy with the Rady School of Management.