The University of Manitoba has received the largest philanthropic gift in its 139-year history — a $30-million donation from philanthropists Ernest and Evelyn Rady, through the Rady Family Foundation.

In honour of the gift, the university's faculty of health sciences will now be known as the Rady Faculty of Health Sciences and doctors will now graduate from the Max Rady College of Medicine.

Ernest Rady was born and raised in Winnipeg but now lives in San Diego, where he founded American Assets financial services and is the former part-owner of Major League Baseball's San Diego Padres. (umanitoba.ca) Ernest Rady, who holds commerce and law degrees from the U of M, was born and raised in Winnipeg but now lives in San Diego, where he founded American Assets financial services and is the former part-owner of Major League Baseball's San Diego Padres.

He is the son of Rose and Max Rady, for whom the Rady Jewish Community Centre is named.

"Perhaps the most important lesson I learned from my parents was the joy of giving back and making a difference," Rady told doctors graduating Thursday at the university.

"In that same spirit of wanting to make a difference — a big difference — I decided to make a gift to my alma mater, and specifically to the faculty of health sciences in honour of my parents. They taught me the values of hard work and of giving back.

"The College of Medicine is where my father got his start and allowed him to make a difference in the lives of so many people here in Manitoba, so this college is of particular significance to me and my sisters."

Rady and his sisters, Marjorie Blankstein and Mindel Olenick, previously gave the college of medicine $904,985 to establish the Mindermar professorship in human simulation​ in 2009.

The latest donation comes one month after the university received a $10-million gift from the Richardson Foundation.

That money is earmarked for essential classroom and laboratory upgrades across the U of M's Fort Garry and Bannatyne campuses.

At that time, it was the largest philanthropic gift announced for the university's Front and Centre campaign, which launched in November 2014 with the aim to raise $500 million.