According to Fox News, Hip-hop mogul Dr. Dre (Andre Young) and music industry entrepreneur Jimmy Iovine donated $70 million to create a new institute at the University of Southern California, the school announced Tuesday night.

The money will be used to create the Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation which will provide a special four-year program for undergraduates whose interests in marketing, computer science, visual design, or other arts.

“The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media,” USC President C. L. Max Nikias said in a statement. “We are committed to encouraging our students to use their intellectual and creative resources to effect change in all segments of society. Our goal is to ensure that the academy is the most collaborative educational program in the world.”

source: http://www.foxnews.com/