The largest single donation in American higher education history — $3 billion — is heading to Carnegie Mellon University. Hedge fund executive Kenneth C. Griffin announced the gift, which will largely fund a new 35-acre campus in Miami's Wynwood neighborhood, with students expected to enroll beginning in 2028.

About $2 billion of the contribution will establish the Miami outpost, while the remainder supports the Pittsburgh campus. Griffin, who moved his company's headquarters to Miami four years ago, stated the donation aims to expand Carnegie Mellon's impact. The university, already with locations in Qatar and Rwanda, forecasts the Miami campus will eventually accommodate over 3,500 students.

This gift eclipses the previous record $2 billion donation to Oregon Health & Science University by Phil Knight. Griffin, a Harvard alumnus, noted Carnegie Mellon's ambition in computer science and artificial intelligence. He will have significant input on priorities as he joins the university's board, and the computer science school will be named in his honor.