Billionaire investor Ken Griffin has pledged $3 billion to Carnegie Mellon University in what officials called a historic donation, according to Carnegie Mellon University. The contribution represents the largest individual gift in higher education history, surpassing a previous record set by a $2 billion gift from Nike co-founder Phil Knight and his wife Penny to Oregon Health & Science University in August 2025, as reported by CNBC.
Ken Griffin Pledges Record $3 Billion to Carnegie Mellon University
Griffin, the 57-year-old founder and CEO of hedge fund firm Citadel, announced the funding alongside Reuters and university leadership. As part of the agreement, Griffin will join Carnegie Mellon’s Board of Trustees, alongside fellow hedge fund billionaire and alumnus David Tepper.
Funding Split Between Pittsburgh Base and New Miami Campus
The $3 billion donation is divided between supporting the university’s established base in Pittsburgh and establishing a new campus in Miami, Florida, according to CBS News.
Of the total pledge, $1 billion is allocated to the Pittsburgh campus. That portion is split evenly between flexible support for university priorities and a $500 million investment dedicated to the School of Computer Science, which will be renamed the Kenneth C. Griffin School of Computer Science. Carnegie Mellon currently ranks No. 1 nationally in undergraduate computer science and No. 3 in graduate earnings by academic major according to U.S. News & World Report’s 2027 rankings.
The remaining $2 billion will fund the creation of CMU Miami, a new comprehensive campus in Griffin’s home state. Citadel moved its corporate headquarters from Chicago to Miami in 2022.
Building CMU Miami in Wynwood
The new CMU Miami campus will span a 35-acre site in Miami’s Wynwood neighborhood, known for its art scene. Construction is slated to begin in 2027, with the campus scheduled to open for graduate students and start enrolling students in 2028. Once complete, the campus is projected to support more than 3,500 students, nearly 300 faculty members, and over 600 staff members.
Rather than relying on traditional academic majors, CMU Miami will organize learning and inquiry around societal challenges. At launch, the curriculum and research will focus on four grand challenge areas:
- Human health and biological discovery
- National security and strategic capabilities
- Energy and climate resilience
- Advanced manufacturing and industrial transformation
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,
Griffin said in a release.
Broader Philanthropic Impact and Strategic Vision
University President Farnam Jahanian praised the partnership, noting that artificial intelligence requires institutions to rethink education, research, and collaboration.
Griffin’s latest commitment expands his extensive philanthropic footprint in South Florida, where his recent contributions total roughly $2.4 billion since relocating Citadel’s headquarters. His regional support has included funding for a charter school network in Miami, the University of Miami, Miami Dade College, public schools, math tutoring, and $50 million gifts apiece to the University of Miami’s cancer center and the Baptist Health Foundation’s neuroscience institute. Nationally, Griffin has previously donated $500 million to Harvard University, his alma mater, and $125 million to the University of Chicago’s economics department.