Carnegie Mellon University is receiving $3 billion, the largest individual gift in higher education history.
The announcement came early Wednesday morning, saying hedge fund manager Ken Griffin's donation is being split: 1 billion goes to the university's Pittsburgh campus.
$500 million of that goes to the just renamed Griffin School of Computer Science.
And, $2 billion will launch a new 35-acre campus in South Florida called CMU Miami.
Griffin is the founder and CEO of Citadel, one of the world’s largest hedge funds, and the founder of citadel securities, a major global market maker.
He also created Griffin catalyst, which brings together his philanthropic and civic work.
Griffin says his own story shaped his commitment to giving back and helping others.
Griffin says his drive to succeed started early. as a high school student in Boca Raton, Florida, he was fascinated by computers and started a business selling software to schools from his bedroom.
Griffin credits his parents and grandparents for shaping his work ethic and giving him opportunities.
His grandmother, Genevieve, grew up on a farm without running water, later built a successful business and saved enough money to help pay for Griffin’s education at Harvard.
During his time at the University, he began trading from his dorm room.
He founded citadel in 1990 and later helped launch citadel securities.
Griffin has donated more than $5.7 billion to education, medical research and other causes.
“We are deeply grateful to Ken Griffin for his extraordinary vision, partnership and belief in what Carnegie Mellon can achieve,” said CMU President Farnam Jahanian. “Throughout our history, CMU has anticipated moments of profound technological change and responded with new ways of thinking and solving problems. Artificial intelligence represents one of the defining intellectual developments of our time, and it demands that we rethink how we educate students, conduct research and partner with others. Together, we have an opportunity to extend the very qualities that have long distinguished Carnegie Mellon — our agility, creativity, interdisciplinary culture and relentless focus on impact — to build a new model for higher education that meets the urgency of this moment.”
“Carnegie Mellon University has made profound contributions to America’s preeminence in science, engineering, technology, and the arts and humanities,” said Ken Griffin. “Since its founding, Carnegie Mellon has fostered remarkable talent, pioneered scientific breakthroughs, and expanded the frontiers of research — shaping global leaders and innovators.
“The opportunity to bring Carnegie Mellon to Miami places our city at the heart of humanistic and scientific advancement and amplifies the University’s international reach and impact. It is a tremendous privilege to be part of this historic moment. CMU Miami represents a generational opportunity to build a new center of research and intellectual life—one that will attract exceptional students, scholars, and researchers from across the globe and rank among the world’s most important academic institutions. Building upon the University’s record of excellence in educating and inspiring the next generation, CMU Miami will cultivate the talent, knowledge, and expertise to launch new enterprises, contribute to Miami’s economy and community, and advance the prosperity of our nation.”
The CMU Miami campus will be located in the city’s Wynwood neighborhood and plans to start enrolling students in 2028.
