Hedge fund CEO gives $3bn to Carnegie Mellon University in historic donation
Unprecedented university donation from Citadel CEO Ken Griffin will go toward building a new Miami campus Carnegie Mellon University will receive an unprecedented $3bn donation from billionaire investor Ken Griffin, making it the largest single donation in the history of US education. Griffin, 57, is the founder and CEO of Citadel, described as the most profitable hedge fund in history. The money…
Billionaire hedge fund CEO Ken Griffin has made an unprecedented $3 billion donation to Carnegie Mellon University, establishing the largest single donation in U.S. education history. The funding will be allocated to the construction of a new Miami campus and significant investments at the university's existing campus in Pittsburgh.
Griffin, the founder and CEO of Citadel, the most profitable hedge fund in history, will also become a member of Carnegie Mellon's board of trustees. The Miami campus will focus on addressing societal challenges, including human health, national security, energy and climate resilience, and advanced manufacturing. The $1 billion portion of the donation will go toward Carnegie Mellon's computer science school and other initiatives, including financial aid.
Griffin's commitment to Miami reflects his recent shift of Citadel's headquarters from Chicago to Miami in 2022, and his overall commitment to the region has increased to approximately $2.4 billion. This significant donation highlights universities' growing reliance on wealthy donors to expand science and technology programs in light of artificial intelligence's economic impact.
Written by urgent.news from The Guardian US's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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