Hedge fund CEO Ken Griffin has committed $3 billion to Carnegie Mellon University, the largest single donation in U.S. higher education history. The gift will fund a new Miami campus and expand the university’s existing operations in Pittsburgh.
The donation includes $2 billion for the Miami campus, which will occupy 35 acres in the Wynwood neighborhood, with graduate-level classes expected to begin in 2028. Undergraduate enrollment is planned for 2032, pending regulatory approvals. The campus is projected to accommodate 3,500 students, 300 faculty members, and 600 staff upon full development.
The remaining $1 billion will support Carnegie Mellon’s existing operations, including $500 million for its School of Computer Science, which will be renamed the Kenneth C. Griffin School of Computer Science. The other $500 million will be allocated to university priorities such as academic programs and student support.
Key Details of the Donation
Griffin, founder and CEO of Citadel, will join Carnegie Mellon’s board of trustees as part of the agreement. The university described the gift as a historic investment in higher education, surpassing the previous record of $2 billion donated by Nike co-founder Phil Knight and his wife, Penny, to Oregon Health & Science University in 2025.
The Miami campus will focus on societal challenges rather than traditional academic departments, with initial areas of study including human health, national security, energy and climate resilience, and advanced manufacturing. The university plans to establish research facilities where students, faculty, and external partners—including businesses and government agencies—can collaborate.
Carnegie Mellon President Farnam Jahanian emphasized the evolving role of artificial intelligence in education and research, stating, “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.”
Griffin’s Prior Philanthropy and Miami Connection
Griffin, whose net worth is estimated at $57.5 billion by Bloomberg, has previously donated $300 million to his alma mater, Harvard University, in 2023, and $125 million to the University of Chicago in 2017. Since relocating Citadel’s headquarters to Miami in 2022, Griffin has become an advocate for Florida’s business-friendly policies, low taxes, and economic growth.
In a statement, Griffin said, “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.” He added that the campus would “cultivate the talent, knowledge, and expertise to launch new enterprises, contribute to Miami’s economy and community, and advance the prosperity of our nation.”
Timeline and Future Plans
- 2027: Construction of the Miami campus is scheduled to begin.
- 2028: Graduate-level classes expected to start, pending regulatory approvals.
- 2032: Undergraduate enrollment planned.
- Ongoing: The university will allocate funds to its Pittsburgh operations and the renamed computer science school.