Starr also will become the founding dean of the School of Public Policy.

CNN: Starr To Lead Pepperdine School of Law

Its founding dean had left after just three years and the search for his replacement lasted nearly a year, plus the program still awaits the imprimatur of the industry's main accrediting body.

WSJ: Big Test at Johns Hopkins

"It could be a huge tool for universities to transform the way they recruit and train graduate students, " Gene Tempel, founding dean of the Indiana University Lilly Family School of Philanthropy, said of Munger's gift.

NPR: Munger Gives Largest Gift In U. Mich. History

During the opening ceremonies for the world competition this year Dean introduced Will.i.am, one of the founding members of the music group, The Black Eyed Peas, who spoke about the importance of technology and getting kids involved to provide the technical leadership required in the future.

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