Ken Griffin Pledges $3 Billion to Carnegie Mellon, the Largest Gift in U.S. Higher Education History
Carnegie Mellon University announced on September 30 that Citadel founder Ken Griffin has pledged $3 billion, which the university called the largest gift by an individual in the history of higher education. It is also the largest philanthropic contribution of Griffin’s career.
Most of the money, $2 billion, will fund a new Carnegie Mellon campus in Miami, built on 35 acres in the city’s Wynwood neighborhood and focused on tackling major societal challenges. The remaining $1 billion goes to the Pittsburgh campus: $500 million for general priorities and $500 million for the School of Computer Science, which will be named for Griffin.
The gift sets a new record. It surpasses the $2 billion that Phil and Penny Knight gave last year to Oregon Health & Science University’s Knight Cancer Institute. Before that, Michael Bloomberg’s $1.8 billion gift to Johns Hopkins held the title. Forbes puts Griffin’s net worth at $57.6 billion, and he had already given more than $2 billion to nonprofits before this pledge, including large gifts to Harvard and the University of Chicago.
Griffin is a Harvard alumnus, not a Carnegie Mellon graduate. According to NPR, he had been in talks with the university for more than two years. Carnegie Mellon’s president indicated that part of the money would be used to make the university more affordable for students, though no details have been announced.
Why it matters: The gift comes while higher education faces financial and political pressure, and other major donors have been stepping in. The Knights gave $1 billion to the University of Oregon just last week. Griffin’s gift also strengthens his long-running investment in South Florida and signals where private money is betting that technology and computer science education will grow.
Ken Griffin doubles down on Florida with record $3B Carnegie Mellon gift +2
