FOX Business reporter Madison Alworth notes that Citadel CEO Ken Griffin is reaffirming his intention to relocate the firm from New York City to Miami, citing Florida’s business-friendly environment as highlighted on ‘Varney & Co.’
Hedge-fund billionaire Ken Griffin has pledged the largest individual donation ever to higher education, committing $3 billion to Carnegie Mellon University to expand its Pittsburgh campus and establish a new Miami location.
The gift allocates $1 billion to Carnegie Mellon’s Pittsburgh campus, with $500 million earmarked for the School of Computer Science, which will be renamed the Kenneth C. Griffin School of Computer Science.
An additional $500 million will serve as flexible funding for the university’s highest priorities, as stated by Carnegie Mellon.
The remaining $2 billion will fund the creation of Carnegie Mellon University Miami, a new 35‑acre campus situated in the Wynwood district.
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Ken Griffin, founder and CEO of Citadel, has pledged the largest individual donation ever to higher education. (Aaron Schwartz/Bloomberg via Getty Images)
The Miami campus will focus on tackling major societal challenges, including human health, national security, energy, climate resilience, and advanced manufacturing.
Upon completion, the campus is projected to host over 3,500 undergraduate, graduate, and doctoral students, along with nearly 300 faculty members and more than 600 staff.
Construction is slated to start in 2027, with the goal of welcoming students in 2028, pending regulatory approvals, according to Carnegie Mellon.
“Supporting institutions of excellence is crucial, as it raises the bar for peers nationwide and globally,” Griffin said in a statement.
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The gift earmarks $1 billion for Carnegie Mellon’s Pittsburgh campus. (Robert Knopes/UCG/Universal Images Group via Getty Images)
“I have confidence in Carnegie Mellon given its outstanding achievements across many disciplines; the Miami initiative will become one of the defining stories in higher education of our era,” Griffin added.
Carnegie Mellon notes that Griffin’s contribution represents the largest individual gift ever to a higher‑education institution and the biggest philanthropic gift of his career.
Griffin, whose philanthropic efforts have centered on education, expanding opportunity, and health sciences, will also join Carnegie Mellon’s Board of Trustees, per the announcement.
“We are profoundly grateful to Ken Griffin for his vision, partnership, and confidence in Carnegie Mellon’s potential,” said Carnegie Mellon President Farnam Jahanian.
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The remaining $2 billion will support Carnegie Mellon University Miami, a new 35‑acre campus in Wynwood. (Carnegie Mellon University)
The gift marks Griffin’s latest major investment in South Florida.
Citadel moved its headquarters from Chicago to Miami in 2022, and Griffin has since expanded the firm’s presence in the city. Most recently, Citadel revealed plans to add a 300‑unit apartment tower and a parking garage to its future Brickell headquarters.
FOX Business’ Robert McGreevy contributed to this report.