The university says in a news release Wednesday that the gift goes to the College of Letters, Arts and Sciences, which is being named after David and Dana Dornsife. A Dornsife Scholars Program is also being established.

The 67-year-old David Dornsife, a USC trustee and alumnus, is chairman and majority owner of the Stockton-based Herrick Corp., a steel fabrication firm.

USC’s previous record donation was $175 million in 2006 from "Star Wars" creator George Lucas. The money was used to build a new home for the university’s film school.