St. Louis philanthropises Rex and Jeanne Sinquefield are donating $50 million to St. Louis University, the largest donation in the 200-year history of the university.
The university said Tuesday that the donation will establish the St. Louis University Research Institute. The gift comes after the unversity's fundraising in 2017-2018 brought in a record $99 million.
Sinquefield is a graduate of St. Louis University and serves as a trustee.
Part of the donation will be used to start the Sinquefield Center for Applied Economic Research. Another portion will go to the university's chess program. Sinquefield is a staunch supporter of chess and has played a key role in making St. Louis one of the nation's leading chess centers.