Kenneth Griffin has already donated $125 million Chicago University as a gift
Kenneth Griffin stated during an interview on Wednesday with Bloomberg Television that he intended to give “well over” one billion dollars to further the cause of higher education.
Griffin emphasized the importance of higher education in society and praised schools throughout the United States for producing graduates who will ensure that American will stay “competitive” as a global superpower.
Griffin has been a trustee at Chicago University as of 2014, and his generous gift will allow students requiring financial aid to receive help, as well as develop research efforts throughout the university and increase resources for faculty and staff.
The economics department, where Griffin studied and eventually graduated from, will be renamed “Griffin” in honor of the sizable donation.
Griffin’s considerable donation has only been the most recent in a series of so-called “mega-gifts” donated to universities: Notre Dame University received $100 million, and the Chicago University itself has garnered over $350 million in donations, pledges, and gifts.
Griffin has also given $150 million to the renowned University of Harvard, where he had also studied. His massive donation expanded the program for financial aid.
Griffin credits success of the Citadel and fellow colleagues to prestigious universities
This flurry of charitable gifts to institutions of higher education is due in large part to the success of the stock market, which is at a record high.
The financial aid fund has now reached $7.8 billion since June 2017, boosted even further by Griffin’s act of charity.
Griffin said that he works with colleagues at the Citadel who possess MBs and degrees in economics from Chicago University.