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The cornerstone for the Lorry I. Lokey Graduate Center at the Tel Aviv University Business School was laid on May 18. Lokey, a Bay Area philanthropist and founder of Business Wire, was on hand for the groundbreaking ceremony.

Lorry Lokey

The new 53,820-square-foot center will house five research institutions, a 300-seat multimedia-equipped auditorium and offices for all graduate programs.

“What a thrill to make an investment,” said Lokey, who serves on the Tel Aviv University board of governors. “Those of us giving grants are really betting on the kids of the future — we want them to do better than we did. Through Tel Aviv University, we are just getting better and better.”

According to a press release from fundraising endeavor American Friends of Tel Aviv University, Lokey “has donated $702.5 million throughout his lifetime, virtually 98 percent of his net worth, with the bulk of it going to educational institutions.