Rapper and producer Dr. Dre joined the ranks of benevolent celebrities alongside veteran record executive Jimmy Iovine, donating $70 million towards the University of Southern California (USC).

The money will go towards creating an arts and business school to be known as The USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.

Andre Young is Dr. Dre’s real name. The school will enroll its first class next year. Speaking on behalf of the university, USC President C.L. Max Nikias said, “The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media. Our goal is to ensure that the academy is the most collaborative educational program in the world.”

USC has previously received another generous grant from another celebrity, Stars Wars creator George Lucas who donated $175 million back in 2006.

Dr. Dre was quoted in the New York Times describing this as the biggest and most exciting thing he has done in his career. The 48 year old former Death Row Records owner has a net worth of $259 million, as listed by Forbes. This is not the first time he and Jimmy Iovine have worked together. They co-founded Beats by Dr. Dre together. Iovine is also the co-founder of Interscope Records, one of the world’s biggest record labels, sigining acts like Blink-182, Papa Roach, Rise Against, Nelly Furtado, Lifehouse, AFI, The All-American Rejects, Jimmy Eat World .