Jake Jabs donates $10 million to CU Denver Business School

ENGLEWOOD, Colo. — Furniture retailer Jake Jabs is making a $10 million gift to the University of Colorado Denver Business School to help students follow in his footsteps as entrepreneurs, the Denver Post reported.

The university announced Wednesday that the gift, the largest single donation in CU history, will go to the school's entrepreneurship program.

"What we need in America is more entrepreneurs," Jabs, founder and CEO of Colorado-based Top 100 company American Furniture Warehouse, told the newspaper.

He has been a guest lecturer at the Bard Center for Entrepreneurship at CU Denver and is a friend of its director, Madhavan Parthasarathy, the Post reported. Effective July 1, the center will be renamed the Jake Jabs Center for Entrepreneurship.

In 2011, Jabs donated $25 million for the development of a business school at his alma mater, Montana State University.