Two longtime supporters of University of California, San Francisco made a $100 million donation to the university to help fund health care initiatives and infrastructure.
The contribution from philanthropists Kathy Chiao and Kenneth “Ken” Hao was announced by UCSF in a statement on Thursday that said the money will be used to both support urgent capital needs and invest in advanced, modernized care technology and infrastructure.
Hao is the chairman and managing partner of Silver Lake, a Silicon Valley-based technology focused private equity firm. His net worth has been estimated by media publications to be about $2.5 billion.
About $50 million of the donation will be allocated toward capital expenses, which are needed maintenance, repairs, upgrades and renovations.
Another $40 million will be spent on undefined innovation initiatives and $10 million will be $10 allocated to the Weill Cancer Hub West, a research center that is a partnership between UCSF and the Stanford Cancer Institute.
In a statement, UCSF Chancellor Sam Hawgood said the couple’s support had been extensive.
“Ken and Kathy have been extraordinary partners to UCSF for many years, and this remarkable gift comes at a pivotal moment,” Hawgood said. “Their generosity gives us the flexibility to expand our hospitals and accelerate the most promising and innovative work when it matters most.”
Capital improvements planned to be completed with the donation include modernization of the university’s Parnassus Heights campus, where a new hospital is being built.
The hospital, the UCSF Health Helen Diller Hospital, is planned to be completed in 2029.
A new hospital building at UCSF Benioff Children’s Hospital Oakland will also be renovated, including adding 104 inpatient beds and a 20-bed inpatient behavioral health unit.
The university said the couple also recently donated $5 million to help invest in artificial intelligence programs.
“UCSF and the University of California represent one of the most powerful engines for innovation and public impact in the world,” Hao said in a statement. “Kathy and I are big believers in the magic produced by the very best academic medical centers and are proud to support the amazing people at UCSF.”