Citadel CEO Ken Griffin announced Wednesday that he has committed $3 billion to Carnegie Mellon University, including $2 billion to establish a new campus in Miami.
The $3 billion commitment is “the largest individual gift in the history of higher education,” according to a statement from the university, which called the gift “historic.” The previous record was a $2 billion donation from Nike co-founder Phil Knight and his wife Penny to Oregon Health & Science University in August 2025.
Griffin, who is worth $57.5 billion by Bloomberg’s estimate, will join Carnegie Mellon’s board of directors.
“The opportunity to bring Carnegie Mellon to Miami places our city at the heart of humanistic and scientific progress and amplifies the university’s international reach and impact,” Griffin said in a statement. “CMU Miami will cultivate the talent, knowledge and expertise needed to launch new businesses, contribute to Miami’s economy and community, and advance our nation’s prosperity.”
Tune in at 10 a.m. ET as Ken Griffin joins CNBC TV to discuss his historic charitable donation. Watch in real time on CNBC+ or the CNBC Pro stream.
Previously, the hedge fund billionaire’s largest donation was $300 million to Harvard University, his alma mater, in 2023. Griffin also contributed $125 million to the University of Chicago in 2017, when Citadel was still headquartered in the Windy City.
Since moving Citadel headquarters to Miami in 2022, citing concerns about crime in Chicago, he has become a vocal advocate for Miami, touting Florida’s business-friendly policies, low taxes and quality of life.
“It’s a thriving state,” he said during a CNBC panel in 2022. “It’s really fun to be in an environment where people embrace the future. They have hope for the future.”
Over the past four years, Griffin has become a prolific philanthropist in South Florida. He has made donations of $50 million each to the University of Miami Cancer Center, the Baptist Health Foundation Neuroscience Institute and Success Academy, to fund the expansion of Miami’s charter school network.
Carnegie Mellon’s new Miami campus will span 35 acres in Wynwood, a neighborhood known for its arts scene. Construction is expected to begin in 2027. The university plans to begin enrolling students in 2028 and welcome more than 3,500 students once the campus is complete.
The new campus’ academic curriculum will be organized around societal challenges such as climate resilience and national security rather than academic majors, according to the release.
Griffin has criticized the leadership of elite universities, including his alma mater. In 2024, Griffin told CNBC’s Leslie Picker that he had suspended donations to Harvard because of the university’s response to anti-Semitism on campus and had also verbally targeted top colleges.
“Are we going to educate future members of the House, Senate and leaders of IBM? Or are we going to educate a group of young men and women who are just caught up in a rhetoric of oppressor and oppressed and it’s not fair and frank as whining snowflakes?” Griffin said.
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