ST. LOUIS, Mo. (KMOV.com) – Saint Louis University announced that St. Louis philanthropists Dr. Jeanne and Rex Sinquefield are donating $50 million to the university to accelerate SLU’s rise as a world-class research university.

This is the largest gift in the University’s 200-year history and comes after SLU recently marked its most successful fundraising year to date.

The gift will fund a new Saint Louis University Research Institute that will serve as a focal point for SLU’s strategic goal.

It will also establish a new Sinquefield Center for Applied Economic Research and provide annual support to SLU’s chess team.

“Saint Louis University was instrumental to my success in life,” said Rex Sinquefield, who is a SLU alumnus and trustee.” I want generations of Saint Louis University students to enjoy the same opportunity that I had.”

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