University of Texas to Get $60M Gift

AUSTIN, Texas (AP) — The Houston-based Mulva Family Foundation is making a $60 million pledge to the business and engineering schools at the University of Texas in Austin.

The gift announced Friday involves the foundation established by retired Houston oil executive Jim Mulva and his wife, Miriam.

The money will help build a new $310 million engineering research and education center, plus renovate the graduate school and administration buildings in the business school.

Jim Mulva earned undergraduate and graduate degrees at Texas in 1968 and 1969. He served in the U.S. Navy and was stationed in Bahrain with Bill Powers, who is now UT's president. Mulva's business career included serving as chairman and chief executive of ConocoPhillips.

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