In June 2012, the College announced a $50 million gift from Ernest Scheller Jr. This $50 million included the $25 million that had been given by him anonymously in 2009. It was the largest cash gift in Georgia Tech's history. As a result of Mr. Scheller's gift, the College of Management was renamed the Ernest Scheller Jr. College of Business and his donations have been used to double the College's endowment, enriching academic programs, growing the faculty, and strengthening the Ph.D. programs, among other uses.