Key facts
- Ken Griffin is donating $3 billion to Carnegie Mellon University.
- The donation will fund a new Miami campus and Pittsburgh initiatives.
- The Miami campus is planned to admit students starting in 2028.
- Griffin's firms, Citadel and Citadel Securities, are headquartered in Miami.
- Griffin previously made the largest gift in Harvard's history in 2023.
Billionaire investor Ken Griffin has announced a $3 billion donation to Carnegie Mellon University, marking the largest single donation in U.S. higher education history. The funds are designated for establishing a new campus in Miami, Florida, and supporting initiatives at the university's main campus in Pittsburgh. The Miami campus, slated to begin construction in 2027 and admit students in 2028, will accommodate over 3,500 students and 300 faculty members. It will focus on societal challenges in areas such as human health, national security, energy and climate resilience, and advanced manufacturing. Carnegie Mellon's School of Computer Science, ranked as the top undergraduate program in the U.S., will receive $1 billion of the donation, and will be renamed the Kenneth C Griffin School of Computer Science. Griffin, founder and CEO of Citadel, a highly profitable hedge fund, and Citadel Securities, has moved his company headquarters to Miami. This donation further solidifies his commitment to the region, following previous investments in local schools and institutions. The university views this as a strategic move to foster intellectual development and research, akin to Stanford's impact on Silicon Valley. Carnegie Mellon, founded by Andrew Carnegie, is renowned for its programs in computer science, artificial intelligence, robotics, and the performing arts. The university's president, Farnam Jahanian, highlighted the importance of AI in shaping education and research, aligning with the new campus's focus. This significant donation follows a $1 billion gift from Nike co-founder Phil Knight to the University of Oregon for an engineering college. Such large contributions underscore the increasing reliance of universities on wealthy donors to expand science and technology programs, while also raising concerns about the influence of the wealthy on higher education.