William S. Dietrich II '60 has bequeathed a gift to endow the University's Economic Theory Center, which has been renamed in his honor. University Spokesperson Martin Mbugua declined to disclose the amount of the gift.

Dietrich majored in history at the University. After graduation, he worked for Dietrich Industries, Inc., a company his father founded. He made his fortune by growing the business into the largest manufacturer of light metal construction framing in the nation, The Boston Globe reported.

He earned a Ph.D. in political science from the University of Pittsburgh.

The center, which was established in 2008, supports faculty research in economic theory. Dietrich's gift will fund fellowship programs, faculty research, seminars and symposia like the annual Princeton Conference on Political Economy.

His gift will be disbursed annually by the Dietrich Foundation, which was formed after his death in 2011 to carry out his bequests. Shortly before his death, he donated a combined $390 million to the University of Pittsburgh and Carnegie Mellon University, The Boston Globe reported.

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