New Mexico billionaire doubles support for private schools

New Mexico’s only billionaire is giving more money to help students attend private school.

The Corio Foundation, founded by solar entrepreneur Ron Corio, has doubled its annual scholarship support for Bosque School in Albuquerque, according to Albuquerque Business First.

The additional funding brings the foundation’s total support for the private institution to more than $8 million over seven years.

Corio founded Array Technologies, an Albuquerque-based solar tracking company. Forbes has identified him as New Mexico’s first and only billionaire.

Bosque School serves students in grades 6-12 and is committed to providing financial aid to half its students, according to its board. Its $29,358 tuition includes books, student activities, grade-level trips and retreats, yearbooks, most field trips and extracurricular activities, as well as Chromebooks for middle school students.

The new support will help more families seeking options outside the public school system. The Corio Foundation made a seven-year, $3.5 million commitment for need-based scholarships last year, the school announced.

At the time, Bosque said the money would provide $500,000 per year for students with the greatest need, with some grants covering full tuition.

Corio said the goal was to help disadvantaged students receive a strong education.

“The Corio Foundation is elated to take a small part in providing the underprivileged youth of Albuquerque with the gift of excellent academics and nurturing whole person development through the Bosque School,” Corio said last year. “We look forward to seeing many future Corio Scholars prosper in their further education and careers as a result of this educational experience.”

The foundation has also supported Menaul School, a private Christian school in Albuquerque.

The school serves grades 6-12 and was founded by the Presbyterian Church in 1896.

In 2022, Menaul announced the Corio Aspiring Innovators Program, which recruits high-potential students and provides scholarships covering 60% to 90% of tuition. The program included a multiyear commitment for 23 scholarships.

The gifts show how private giving can help families choose schools that fit their children’s needs.

Although public schools receive most education funding and political attention, many families choose private schools for stronger academics and discipline, smaller communities or moral formation.

Bosque School cited New Mexico’s ranking near the bottom nationally in K-12 reading, math and child welfare in its 2025 announcement as evidence that greater access to stronger schools is needed in the state and credited Corio’s gift with helping make that possible.