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Billionaire couple donates $100m to University of Toronto, largest gift in school’s history
Other - MARCH 25, 2019

Billionaire couple donates $100m to University of Toronto, largest gift in school’s history

by Andrea Zander

Canadian billionaires and philanthropists Gerry Schwartz and Heather Reisman have donated $100 million to the University of Toronto toward research in innovation and artificial intelligence, the largest gift in the school’s history.

The donation from Schwartz, CEO of Toronto-based private equity firm Onex Corp., and his wife Reisman, CEO of Indigo Books and Music Inc., will help create the Schwartz Reisman Innovation Centre, a 750,000-square-foot complex that will be home to AI scientists, biomedical experts, entrepreneurs and startups, U of T.

In addition, the money will support the launch of the Schwartz Reisman Institute for Technology and Society, which will examine the ethical and societal implications of AI and other emerging technologies.

The university plans to begin construction of the innovation center this fall. The first phase will be a 250,000-square-foot, 12-story tower that will be home to the Vector Institute for Artificial Intelligence, among other stakeholders. The second phase will be a 500,000-square-foot, 20-story tower.

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