By Sheila Mckenzie-
The Foundation belonging to the Reuben brothers has donated £80 million to Oxford University to fund the creation of a new postgraduate college.
David and Simon Reuben, recently ranked the UK’s second-richest billionaires with a fortune of 16 billion pounds in ‘The Sunday Times’ annual rich list, made what Oxford University described as ”transformational gift”
Reuben College will be the first new postgraduate college to be formed in over three decades and begin admitting postgraduate students in September 2021, specialising in cells, artificial intelligence and climate change.
It focuses on the three themes of artificial intelligence, environmental change and cellular life.
David and Simon Reubon were born in Mumbai and went on to build a business empire across the globe.
The UK brothers who remain one of the richest in the UK, have major interests in real estate and metals. Their activities include business links with groups in India such as Sahara, as well as philanthropic and education-related activities in the UK and elsewhere.
A total of £15 million will go towards establishing a new student scholarship programme, while £9 million will pay for undergraduate scholarships for students from low-income backgrounds.
Reuben College, which will be Oxford’s 39th, and based near the Radcliffe Science Library.
The University said on Thursday that the college’s initial research themes are: Artificial Intelligence and Machine Learning; Environmental Change; and Cellular Life, which includes work in understanding Covid-19.
Oxford vice-chancellor, Louise Richardson said: “Thanks to the extraordinary generosity of the Reuben family, Reuben College will join the storied ranks of Oxford Colleges. For generations to come, the lives of young people will be transformed as they learn to engage in research that pushes at the frontiers of knowledge”.
The buildings to be used are currently undergoing refurbishment to create a central site for students. Some of the space will be shared with the library and the university’s museums.
A statement from the Reuben family as saying: “We hope that this endowment for the Reuben College will help keep Oxford University at the global forefront of research in the vital areas of Environmental Change, AI and Machine Learning and Cellular Life, thereby helping to improve the lives of millions of people long into the future.”
The donation will now enable it to envisage a future that includes more cross-cutting research themes and offer richer engagement opportunities for academics, graduate students and the community”.