From The New York Times, where you can check out the full write-up:
The music moguls [seen above with Professor Erica Muhl and USC President C. L. Max Nikias], who founded the wildly popular Beats headphone business, are giving $70 million to the University of Southern California. This donation with culminate in the creation of a degree that blends business, marketing, product development, design and liberal arts. The gift is relatively modest, as donations to universities go. But the founders’ ambitions are lofty, as they explained in an interview Monday in the elaborate presidential dining room on the lush U.S.C. campus.
“If the next start-up that becomes Facebook happens to be one of our kids, that’s what we are looking for,” said Mr. Iovine, an energetic 60-year-old dressed in his trademark uniform of T-shirt and fitted jeans, faded baseball hat and blue-tinted eyeglasses.
