Ken Griffin pledges $3 billion to Carnegie Mellon for campus expansion and new Miami site

Hedge-fund founder and Citadel CEO Ken Griffin has committed $3 billion to Carnegie Mellon University, marking the largest individual contribution to a U.S. college. The gift includes $1 billion for the university’s Pittsburgh campus, with $500 million earmarked for its School of Computer Science, which will be renamed in Griffin’s honor. An additional $500 million will be set aside as flexible funding for the university’s top priorities.

The remaining $2 billion will finance Carnegie Mellon University Miami, a planned 35-acre campus in the Wynwood district. The Miami site will concentrate on addressing societal challenges in areas such as human health, national security, energy, climate resilience and advanced manufacturing. When completed, the campus is projected to host more than 3,500 students, nearly 300 faculty members and over 600 staff. Construction is slated to begin in 2027, with enrollment expected in 2028 pending regulatory approval.

"I believe it's important to support institutions of excellence in our country, and that when we support an institution that achieves excellence, we both set the bar higher for other institutions across the nation and around the world," Griffin said in a statement.

"I believe in Carnegie Mellon because they have done such an extraordinary job in so many fields. What we're about to embark on in Miami will create one of the great stories in higher education of our lifetime," he added.

Carnegie Mellon President Farnam Jahanian expressed gratitude, noting Griffin’s vision and partnership. Griffin will also join the university’s Board of Trustees. The donation follows Citadel’s relocation of its headquarters to Miami in 2022 and recent plans for a mixed-use development near the firm’s Brickell office.