Historic $3 billion donation from Citadel founder Ken Griffin to Carnegie Mellon University

Carnegie Mellon University just received a historic $3 billion donation from the CEO of Citadel, Ken Griffin. Carnegie Mellon, which is located in Pittsburgh, announced the gift Wednesday morning., The university says it intends to use $2 billion to open up a new campus in Miami, called Carnegie Mellon University Miami. “We are deeply grateful to Ken Griffin for his extraordinary vision, partnership and belief in what Carnegie Mellon can achieve,” CMU President Farnam Jahanian said in a statement. Construction is scheduled to begin in 2027 and should be open to new students in 2028, presuming there are no major regulatory hurdles, according to the Pittsburgh Post-Gazette.Griffin bought the 35 acres in Wynwood, Florida, where the university will be built for $1.1 billion from real estate developer Moishe Mana. Citadel CEO Ken Griffin donated $3 billion to Carnegie Mellon University. His gift is the largest individual donation ever made a college or universityA rendering of the planned Carnegie Mellon University, Miami campus, which is slated to begin enrolling students in 2028 (Carnegie Mellon University)Mana said that the sale is the largest land assemblage deal in Florida history. The campus is expected to support more than 3,500 undergraduate, master's and PhD students, plus approximately 300 faculty members and more than 600 staff. The final $1 billion of the donation will go to support Carnegie Mellon's Pittsburgh campus. Approximately half will be used to boost the university's highest priority needs, and another half will be invested into its School of Computer Science, which will be renamed the Kenneth C Griffin School of Computer Science in his honor. CMU said that the donation is the largest individual donor gift ever given to a university.