In an email sent out Sept. 12 by Chapman University’s Dean of Students Jerry Price, it was announced that the Argyros School of Business and Economics would be starting a distinguished lecture series. The email also explained that a gift for the school would be announced during a discussion with Earvin “Magic” Johnson, which took place on Sept. 22.

At the event, the gift was announced to be a $10 million donation from the Argyros family, which would go toward the expansion of the Argyros School of Business and Economics.

Executive Vice President and Chief Advancement Officer Matt Parlow worked alongside the Argyros family on the gift. He shared with The Panther how the $10 million donation will help expand and grow the school.

“This endowment support will provide the dean with new resources for advancing the strategic goals of the Argyros School,” Parlow said. “With this gift, and in recognition of the growth of the Argyros School, the Argyros School of Business and Economics will be renamed the Argyros College of Business and Economics.”

The shift of the school becoming a college will allow for more development into different areas of business, such as the Burra School of Accounting and Finance. In addition, the fund will help contribute to the rising ranking of the business school in the nation. The Argyros School of Business and Economics is currently ranked No. 60 in the country and has a goal to reach the top 50 in the next few years.

Bright Piens is a senior double majoring in psychology and business administration with an emphasis in real estate. Piens attended the distinguished lecture event last Friday and commented on how he believes the gift will be beneficial to the Argyros School and to Chapman as a whole.

“This contribution will enhance the overall student experience, both inside and outside the classroom,” Piens told The Panther. “(The donation) signifies a commitment to academic excellence and will enable us to access resources and opportunities that will prepare us for success in the business world.”

The funds will also go toward Chapman’s strategic plan and its goal to raise $500 million by 2028, as seen in the university’s new INSPIRE campaign.

Dean of Argyros College Henrik Cronqvist shared in a Chapman press release that the school has become more selective in its programs, resulting in successful business careers after graduation.

“George Argyros’ contributions have been the source through which we have been able to build and create so many opportunities for our students so that we can have many more George Argyros-types of students in the future who can be successful in business and then give back to the university,” Cronqvist said.

Correction: A previous headline for this article stated that “Magic” Johnson bestowed a $10 million gift to the Argyros School of Business and Economics. The Argyros Family gave the gift to Chapman, and Johnson only announced it. We regret the error.