Ken Griffin Pledges $3 Billion to Carnegie Mellon University

Citadel founder and CEO Ken Griffin has pledged $3 billion to Carnegie Mellon University, a donation the university has described as historic.

The gift includes $2 billion earmarked for establishing a new Carnegie Mellon campus in Miami, expanding the university's presence beyond its main campus in Pittsburgh, Pennsylvania. The remaining portion of the pledge is intended to support the university's broader academic and research mission.

Griffin, who leads the hedge fund Citadel and market maker Citadel Securities, has made a series of large philanthropic donations to universities and cultural institutions in recent years, spanning higher education, medical research and the arts.

A new campus for South Florida

The planned Miami campus would extend Carnegie Mellon's academic offerings into South Florida, a region that has seen growing interest from technology and finance companies in recent years, including Citadel itself, which relocated its headquarters to Miami in 2022.

University officials have described the donation as one of the largest single gifts in Carnegie Mellon's history. Further details on the Miami campus's programs, timeline and enrollment plans are expected to be announced as the project develops.