$40 million donation will help build business school at Columbia University

Two businessmen have pledged donations totaling $40 million to help build new business school facilities at Columbia University in New York City. Arthur Samberg, manager of Hawkes Financial Services, has pledged $25 million, and Mario Gabelli, chief executive officer of GAMCO Investors, has pledged $15 million. Both men are members of the business schools board of overseers, the university says. Columbia is building new business school facilities that will encompass more than 450,000 square feet of space.