Related Companies head honcho Stephen Ross is giving $200 million to his alma mater, the University of Michigan, the single largest gift in its history. The billionaire developer’s money will be split between athletic programs and the university’s Ross School of Business, which was named after him following an earlier $100 million donation.
The contribution raises the total that Ross has given the Wolverines to $313 million, representatives from the institution told the Wall Street Journal.
“I believe you give till it feels good,” Ross told the newspaper. The new gift would boost the school’s endowment and allow it to finish construction of the business school, he added.
“He’s finishing the vision and it’s a big vision,” university president Mary Sue Coleman told the Journal.
The sum places him among the largest benefactors to their alma maters, a list that includes Mayor Michael Bloomberg, who this year pledged $350 million to Johns Hopkins University in Baltimore. [WSJ] – Hiten Samtani