Ken Griffin Donates Record $3 Billion to Carnegie Mellon for Miami Campus

Ken Griffin, founder of hedge fund Citadel, has donated a record $3 billion to Carnegie Mellon University—the largest single gift in U.S. higher education history. The donation funds a new 35-acre Miami campus expected to open in 2028 and $1 billion for Carnegie Mellon's Pittsburgh campus, reflecting Griffin's shift of business resources to South Florida.

Quick Facts

Record $3 billion donation to Carnegie Mellon University
Construction of new 35-acre campus in Miami's Wynwood neighborhood
Renaming of School of Computer Science after Griffin
New educational model focused on grand challenge areas
Griffin joining Carnegie Mellon's Board of Trustees

Hedge fund CEO Ken Griffin has announced a $3 billion donation to Carnegie Mellon University, the largest single gift ever made to a U.S. university. The donation is split between $2 billion for a new 35-acre campus in Miami's Wynwood neighborhood and $1 billion for Carnegie Mellon's Pittsburgh campus, where the School of Computer Science will be renamed the Kenneth C. Griffin School of Computer Science.

The Miami campus is designed around a new educational model focused on "grand challenge areas" rather than traditional academic majors, including human health and biological discovery, national security and strategic capabilities, energy and climate resilience, and advanced manufacturing and industrial transformation. The campus is expected to enroll approximately 3,500 undergraduate, master's, and doctoral students when it launches in 2028, with construction scheduled to begin in 2027.

Griffin's donation reflects his expanding commitment to South Florida. The Citadel founder relocated his hedge fund's global headquarters from Chicago to Miami in 2022 and has stated plans to redirect business resources from New York to Miami. In May 2026, Griffin announced he was expanding his Miami office footprint after a dispute with New York City officials over proposed taxation of luxury properties, including his $238 million penthouse.

Carnegie Mellon President Farnam Jahanian emphasized that the donation responds to rapid technological change, particularly artificial intelligence. "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," Jahanian said. The donation surpasses Michael Bloomberg's $1.8 billion gift to Johns Hopkins University in 2018 and Nike co-founder Phil Knight's $2 billion donation to Oregon Health & Science University in 2025.

Griffin, who attended high school in Miami, is joining Carnegie Mellon's Board of Trustees. The Miami metropolitan area, with a population exceeding 6.4 million, already hosts several major universities including the University of Miami, Florida International University, and Miami Dade College, with combined enrollment around 135,000. Carnegie Mellon previously operated education programs in Florida through its computer science department and partnerships with Miami Dade College.

Topics

Education Technology Tech Breakthrough Business Artificial Intelligence

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Why This Matters

The $3 billion donation funds a new Carnegie Mellon campus in Miami scheduled to open in 2028 with 3,500 students, reflecting Griffin's business relocation from Chicago to Miami (completed 2022) and expansion of his Citadel hedge fund's footprint in South Florida. The gift surpasses previous records (Michael Bloomberg's $1.8 billion to Johns Hopkins in 2018; Phil Knight's $2 billion to Oregon Health & Science in 2025) and reshapes higher education investment geography, adding major research capacity to a metropolitan area with 6.4 million residents and existing university enrollment of approximately 135,000.

Timeline & Sources

Jan 1, 2022

Wire

Citadel relocates global headquarters from Chicago to Miami

Sep 30, 2026

Wire

Griffin announces $3 billion donation to Carnegie Mellon University

Jan 1, 2028

Wire

CMU Miami campus expected to launch

Jan 1, 2028

Wire

Miami campus projected to launch