Oculus CEO Donates $31 Million for VR Lab at University of Maryland

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Oculus VR co-founder and CEO Brendan Iribe is donating $31 million to the University of Maryland to help build a computer science building for cutting-edge research in virtual reality. Iribe dropped out of UMD his freshman year to pursue video game technology ventures before going on to start Oculus. His donation, the largest gift in the university’s history, will help fund construction of the Brendan Iribe Center for Computer Science and Innovation. "The space is designed for hackers, makers and engineers, which will help give rise to future breakthroughs, products and startups that will transform the way we live and interact with the world around us," Iribe said in a statement issued by UMD. Iribe became ultra-wealthy when Facebook announced it was acquiring Oculus for $2 billion in cash and stock earlier this year.



— James Eng