Pepperdine University School of Law has landed one of the largest single donations to a law school on record.

Los Angeles developer and Pepperdine Law alum Richard Caruso on Wednesday announced a $50 million gift to his alma mater, with the funds going toward student scholarships and loan repayment assistance for low-income and underserved students. Additionally, Caruso and his wife, Tina, have pledged to help raise another $50 million over the next decade to endow that financial assistance and ensure it’s available for the long term. The school is being renamed the Pepperdine University Rick J. Caruso School of Law in recognition of the gift.

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