Amar Bose donates Bose to MIT
By Shalini Singh
Amar Gopal Bose is one of the biggest Indian origin names in the world. As the Founder and Chairman of the Bose Corporation, Amar has a regular place on the Forbes Rich List. His father was a freedom fighter from Bengal who migrated to USA to avoid persecution by the British when they still ruled us. Amar Bose’s first wife was an Indian whom he met while studying in Delhi.
Amar Bose, 51, has just made one of the biggest stock donations to his alma mater Massachusetts Institute of Technology (MIT). MIT has announced
Dr. Amar Bose ’51, Bose Corporation’s Founder, has given to MIT the majority of the stock of Bose Corporation in the form of non-voting shares.
MIT will receive annual cash dividends on those shares when dividends are paid by Bose Corporation; those cash dividends will be used by MIT to sustain and advance MIT’s education and research mission.
Under the terms of the gift, MIT cannot sell its Bose shares and will not participate in the management or governance of the company. Bose Corporation will remain a private and independent company, and operate as it always has, with no change in strategy or leadership. Dr. Bose will remain Bose Corporation’s Chairman and Technical Director.
Dr. Bose received his bachelor’s degree, master’s degree and PhD from MIT, all in electrical engineering. He was asked to join the faculty in 1956, and accepted with the intention of teaching for no more than two years. He continued as a member of the MIT faculty until 2001, making important contributions to the Institute’s teaching of undergraduate electrical engineering.
In 1964, Dr. Bose founded Bose Corporation. From its inception, the company has remained privately owned, with a focus on long-term research. Learn about the company here.
In expressing gratitude for this gift, MIT President Susan Hockfield remarked not only on Dr. Bose’s generosity, but also on his humility. “Amar Bose gives us a great gift today, but he also serves as a superb example for MIT graduates who yearn to cut their own path. Dr. Bose set the highest teaching standards, for which he is still admired and loved by his faculty colleagues and the many students he taught. His insatiable curiosity propelled remarkable research, both at MIT and within the company he founded. Dr. Bose has always been more concerned about the next two decades than about the next two quarters.”