The family of John Dyson, a former chairman of the New York Power Authority, is giving $25 million to Cornell University to establish a school of applied economics and management.
The school will be named after Dyson's late father, Charles, a pioneer in the high-finance field of leveraged buyouts who helped organize the International Monetary Fund.
Some 800 graduate and undergraduate students are enrolled at Cornell's Department of Applied Economics and Management, which opened in 1909. The gift will elevate the department to the status of a school.
Dyson, a Cornell graduate, was named to head the power authority by Gov. Hugh Carey. He also served as a deputy mayor under New York City Mayor Rudolph Giuliani and started a highly rated winery in the Hudson Valley.