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 the 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 is going toward a new Miami campus as well as big investments at the university’s longtime home in Pittsburgh. Part of the funding will be used to develop Carnegie Mellon’s presence in Miami, Florida, where Griffin lives and where Citadel is now headquartered. The rest will support priorities in Pittsburgh, including recruiting prominent academics and making attendance more affordable for students.

The Miami campus will support more than 3,500 undergraduate, master’s and PhD students, nearly 300 faculty and more than 600 staff members, with construction slated to begin in 2027. $1bn will go toward Carnegie Mellon’s computer science school…