Michael J. Farrell ’71 Bus was able to attend Penn State because of a scholarship he received, then spent a successful career embodying the same spirit of generosity that had benefited him.
“He looked at it as paying it forward and giving back to a place that had given him a lot,” says son Mike Farrell ’12 Edu, a former offensive lineman for the Nittany Lions. “He never dreamed he would find as much success professionally after Penn State as he did.”

Farrell, who started his entrepreneurial life with a newspaper route at age 9, rose to become the chairman, CEO, and president of Farrell & Co., an investment banking firm that helped save and turn around Standard Steel and Pittsburgh Flatroll Co. Despite significant challenges, Farrell instituted a profit-sharing model with Standard Steel employees because he felt it would be beneficial in the long run, says Mike. He also held executive positions at MK Rail, Motor Coils Manufacturing, and Season-All Industries.

In 1999, Farrell endowed the Farrell Center for Corporate Innovation and Entrepreneurship at Penn State. He also supported faculty, student scholarships, and the Nittany Lion football team. “I think his entrepreneurial approach, his entrepreneurial savvy, was born out of his interest and desire and ability to do things differently and approach things unconventionally as it related to business,” Mike says.

Farrell (Dist. Alum, Alum Fellow) died Aug. 16, 2024; he was 74. He is survived by his wife, Kristen; his sons Mike, Christopher ’14 Bus, and James ’17, ’18 MAcc Bus; a sister, Kathy Swilling; and one grandson, Hagen. His family established the Michael J. Farrell Entrepreneurship Scholarship to honor his memory. —Katherine O’Brien