$30M donation to University of Florida

One of the first graduates of the University of Florida's MBA program is giving $30 million to the school, which will use the money to create an endowment and construct a building to be named after him.

William R. Hough's donation, announced Friday, is the largest private gift ever received by the university.

Hough is the founder of William R. Hough and Company, a St. Petersburg-based municipal bond firm he headed for 38 years, until it was sold in 2004. Hough also was the chairman of Republic Bancshares Inc., which was acquired by BB&T Corp. in 2004.

He graduated in 1948, the first class of the school's MBA program.

Hough's gift will establish an endowment to support teaching, academic programs and enhancements in the graduate business school. His donation also will help in the construction a building to house graduate business programs.

If approved by the university's trustee board, the Florida Board of Governors and the state Legislature, the school will be named the Hough Graduate School of Business, and the building will be named William R. Hough Hall.