Ricci family gift strengthens innovation research at Embry-Riddle 

Embry-Riddle Aeronautical University (ERAU) has announced that aviation entrepreneur Kenn Ricci and his wife Pamela have established two endowed faculty positions focused on innovation in aviation, aerospace, and space studies. 

Ricci, a longtime figure in business aviation, is the principal of Directional Aviation Capital, the Cleveland-based investment group that owns a range of aviation businesses including Flexjet, Sentient Jet, and Nextant Aerospace. The university said the newly endowed chairs will strengthen its capacity for research and education in emerging areas of aerospace technology. 

In a statement published by Embry-Riddle, university President P. Barry Butler thanked the Riccis for what he described as a “transformative” gift aimed at bolstering research and attracting top faculty talent. The endowments, titled the Ricci Family and Flexjet Chairs for Aviation, Aerospace, or Space Innovation, are designed to support educators who specialize in developing new approaches to aviation technology and workforce training. 

Ricci, who joined Embry-Riddle’s board of trustees in 2024, has described his philanthropy as a way to encourage “bold thinking about the growth and advancement of aviation.” His statement accompanying the university’s announcement emphasized innovation and problem-solving as the cornerstones of his career and of the new academic positions. 

A pilot and attorney by training, Ricci began his aviation career flying charter aircraft in the 1980s and went on to found several businesses that were later consolidated under Directional Aviation. According to company information, he served as Governor Bill Clinton’s pilot during the 1992 presidential campaign — an early chapter in a career that later saw him helm a multi-billion-dollar aviation portfolio. 

Ricci is also known for his substantial philanthropic record in higher education. In 2017, he and his wife pledged $100 million to the University of Notre Dame, his alma mater. The university described it as the largest unrestricted gift in its history. That contribution was structured through a philanthropic partnership tied to Ricci’s business interests, designed to generate long-term funding for scholarships and research. 

While Ricci’s current net worth has not been disclosed, his business holdings and past philanthropic commitments place his fortune in rarefied territory. Directional Aviation, Ricci’s holding company, generates more than $4 billion in annual revenue, employs over 5,000 people across North America and Europe, and manages more than 300,000 annual flight hours for a global customer base, according to company data. 

The new Embry-Riddle endowments come at a time when the aviation industry faces a shortage of qualified pilots, engineers, and technicians. Universities such as ERAU play a key role in addressing those workforce gaps. Endowed faculty positions typically fund research, teaching, and outreach in specialized areas, and help attract experienced professionals from industry to academia. 

The gift aligns with Embry-Riddle’s effort to connect its research with the practical needs of industry. The endowed chairs are expected to focus on areas such as flight operations, propulsion, and aerospace systems — fields where innovation and workforce demand are growing. 

Ricci’s decision to invest in education follows a pattern that has defined his career: connecting entrepreneurship with long-term sector development. His earlier donations to Notre Dame and support for programs such as Able Flight, which provides flight training for people with disabilities, point to a consistent interest in building pathways into aviation. 

Embry-Riddle has not disclosed the financial terms of the new endowments or when the faculty appointments will be made. The post Ricci family gift strengthens innovation research at Embry-Riddle  appeared first on AeroTime.

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