LAWRENCE, Kan. -- Just days before the Kansas Jayhawks football season kickoff against Fresno State on Aug. 23, the University of Kansas announced an unprecedented gift from alumnus David G. Booth of Austin, Texas. The extraordinary gift, amounting to approximately $300 million, is the largest in Kansas Athletics and University of Kansas history, and is among the largest single gifts in the history of college athletics.
Booth, a graduate of both Lawrence High School and KU, is an investing legend and founder of Dimensional Fund Advisors — a global investment firm that manages $853 billion in assets as of June 30, 2025. Booth’s visionary gift includes a $75 million challenge to other donors that launches the next phase of progress on the Gateway District and David Booth Kansas Memorial Stadium. The remainder of his commitment will generate a stream of income that will strengthen Kansas Athletics across generations.
“David’s unprecedented generosity is transformative now and for our future,” said KU Athletics Director and Vice Chancellor Travis Goff. “It accelerates phase II of the Gateway District and the new ‘Booth’ and inspires others to step up and join in completing this vision. We’re profoundly grateful for David’s leadership and extraordinary impact on generations of student-athletes and fans. There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor.”
It’s not just the scale of the gift that is remarkable, but what it will accomplish. Booth’s commitment will propel the Gateway District’s next phase, which adds to private and civic investment for a new hotel, additional retail and restaurant spaces, student housing, improved parking and an outdoor event plaza.
The remainder of Booth’s gift will allow Kansas Athletics to be strategic, innovative and maintain a leadership position in college athletics. With the advent of revenue sharing and the continued changes in NCAA and conference dynamics, his generosity will help enable KU to take the next step in cementing itself as a national leader in college athletics.
“David has always believed in the power of athletics to unite communities, generate Jayhawk spirit and create lasting bonds between alumni, students and fans,” said KU Chancellor Douglas A. Girod. “His generosity is inspiring, and his loyalty to KU runs deep. We are beyond grateful for his transformative gift.”
For Booth, giving back to KU is an investment in the university and its mission. He hopes his philanthropy will inspire others to also support the Gateway District project and what he calls “the prototype for future football stadiums” at whatever level they can.
“One of life’s greatest privileges is being able to give back to the people and places that gave so much to you,” said Booth. “KU and Lawrence are a big part of my story, and it means a lot to support the community that invested in me. Philanthropy, like investing, pays dividends over time. Each gift compounds, creating opportunities not just for today, but for years to come. This is really about the future we’re building.”
When he was a child, Booth’s parents, Gilbert and Betty Booth, moved the family from their home in Garnett, Kansas, to Lawrence at 1931 Naismith Drive, near Allen Fieldhouse. The family gathered regularly to listen to KU games on the radio, glued to Max Falkenstien’s iconic voice. At the age of 13, Booth attended his first game through the Boy Scouts, working as an usher in the football stadium. He later worked basketball games at Allen Fieldhouse by selling popcorn in the stands.
The Lawrence High graduate attended KU, earning both a Bachelor of Arts in Economics in 1968 and a Master of Science in Business in 1969 before earning his Master of Business Administration from the University of Chicago in 1971.
Booth founded Dimensional Fund Advisors in 1981 to apply the principles of financial science to practical investment solutions. Booth started Dimensional in collaboration with several others from the University of Chicago, including Booth’s mentor, former professor and Nobel Laureate Eugene Fama, and classmate Rex Sinquefield, who co-founded the firm. Booth and Dimensional have been recognized for helping transform the industry toward more transparent, low-cost and data-driven solutions for investors. That story was recently profiled by Academy Award winning director Errol Morris in the film “Tune Out the Noise.”
Booth’s landmark gift is the most recent in his long legacy of support at KU, helping transform athletics and its impact for the university. Booth provided a foundational gift of $50 million in 2017 to kick off renovations at the stadium, which was named for him in 2018. In 2010, he donated James Naismith’s original rules of basketball to the university, a top attraction at the Booth Family Hall of Athletics, which he and his family provided $5 million for in 2004, followed by $4 million for subsequent improvements. His philanthropy is legendary and extends across areas, including the arts and academics. In 2008, he provided a gift valued at $300 million to the University of Chicago School of Business, where he earned his MBA. The school was named the University of Chicago Booth School of Business in his honor.
With KU’s football season opener around the corner, Booth’s excitement to get back to the stadium is growing.