CMU Gets $3 Billion Grant, Largest University Gift Ever

PITTSBURGH, PA — Carnegie Mellon University announced Wednesday it is receiving a $3 billion grant to be used to build a new campus in Miami, Florida, and to enhance the university's Pittsburgh campus.

The gift was provided by Ken Griffin, the founder and CEO of Citadel, one of the world's biggest hedge fund firms. It's the largest donation by an individual in higher education history.

About $2 billion of the gift will be spent to launch the Miami campus. The remaining $1 billion will divided evenly between a $500 million investment in the university's School of Computer Science and support for the university's top priorities.

“We are deeply grateful to Ken Griffin for his extraordinary vision, partnership and belief in what Carnegie Mellon can achieve,” said CMU President Farnam Jahanian.

University officials said the new Miami campus will support more than 3,500 undergraduate, master’s and PhD students, nearly 300 faculty and over 600 staff members. Construction is expected to begin next year, with the first students enrolling in 2028.

According to the university, CMU Miami will focus on challenge areas spanning human health and biological discovery; national security and strategic capabilities; energy and climate resilience; and advanced manufacturing and industrial transformation.

“The opportunity to bring Carnegie Mellon to Miami places our city at the heart of humanistic and scientific advancement and amplifies the University’s international reach and impact," said Griffin. "It is a tremendous privilege to be part of this historic moment."

About $2 billion of the grant will be spent to launch the Miami campus. The remaining $1 billion will divided evenly between a $500 million investment in the university's School of Computer Science and $500 million of support for the university's top priorities.

CMU's computer science school which will be renamed the Kenneth C. Griffin School of Computer Science. Griffin also will join the university board of trustees.