Billionaire LA benefactor John Anderson dies at 93

Billionaire businessman John E. Anderson, who founded Topa Equities and gave his name and millions to the school of management at the University of California, Los Angeles, has died.

UCLA said in a statement that Anderson died Friday at Ronald Reagan UCLA Medical Center. He was 93.

The school was renamed the John. E. Anderson Graduate School of Management after Anderson and wife Marion gave their first gift in 1987. They have donated a total of $42 million to the university.

Until his death Anderson was president of Topa Equities, owner and operator of 33 businesses involved in agriculture, insurance and other industries.

The pair also donated more than $50 million to the construction of a new building for Children's Hospital Los Angeles, where Marion Anderson is a board member.

Follow Emirates 24|7 on Google News.