<p>Stephen</a> M. Ross gives University of Michigan record $200M</p>
<p>That’s incredible. First, Helen Zell donated $50 million to Michigan in March. Then Charles Munger donated $110 million to the University in April. Now Stephen Ross donates $200 million to Michigan. Are you watching Larry? What an awesome launch to the new fund-raising campaign. Almost $400 million in 6 months and we haven’t even started the campaign officially!</p>
<p>This is terrific news for the University of Michigan. Combined with his previous generous gifts to the University, this also makes Ross the second-largest donor to any college or university after Michael Bloomberg who has pledged $350 million to Johns Hopkins. Ross’ gifts to Michigan now total $313 million.</p>
<p>Thank you, Stephen Ross! As Alexandre says, this is indeed an auspicious beginning to Michigan’s upcoming capital campaign, which Ross has agreed to chair.</p>
<p>My only quibble would be that there are probably other parts of the university more in need of a big infusion of cash than the athletic department and the business school. But it’s Ross’ money and he can spend it as he sees fit, and it’s clear that the business school and the athletic program are the parts of the university he is most passionate about, and what keeps him tied in in such a substantial way. I’d like to see the overall capital campaign focus on raising more money for financial aid–though the reports do say that a portion of Ross’ contribution will go to business school scholarships, a welcome step in that direction.</p>
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True, but don’t forget that large donations like these relieve a lot of stress on the general fund. Part of the money that would have been allocated towards Ross won’t necessarily be needed and can instead go to the more needy parts of U-M. This donation is excellent news for all of the University of Michigan.</p>
<p>Here’s an interesting article. As of April of 2013, Michigan’s 10 largest alumni gifts totaled $580 million. This includes Munger’s $110 million gift, but not Ross’ $200 million donation. If you include Ross’s most recent gift, the top 10 donations would equal $750 million. That is just ridiculous! Hopefully, Page will make a significant donation shortly. </p>
<p>[Top</a> 10 donations to the University of Michigan total $580 million](<a href=“http://www.annarbor.com/news/u-m-donations-top-10/]Top”>Top 10 donations to the University of Michigan total $580 million)</p>
<p>Larry Page would donate to Stanford before Michigan. It was Stanford’s connections and resources which are more responsible for the birth of Google.</p>
<p>The two are not mutually exclusive ForeverAlone. He could easily donate to both schools, and while I am sure he is fond of Stanford, people almost always feel more strongly about their undergraduate institution. Also, while Stanford played a critical role in Page’s success, one should not underestimate the importance of his own resourcefulness, or of his undergraduate education.</p>
<p>@ForeverAlone Even so, Page spent more time at Michigan than he did at Stanford. Honestly, I’m still skeptical that Page will be making a large donation anytime soon to either university. Even though he is one of the wealthiest alums of both institutions, his philanthropic history has been marked by lots of small donations, and not all too many massive ones.</p>
<p>Absolutely KronOmega. If you notice the largest donors, not just at Michigan but at other universities as well, they are usually alums well in their 50s or older. People tend to donate more later in life. Page is only 40 years old. But given his wealth, even a $200 million would constitute a fraction of a percentage of his net worth.</p>
<p>"My only quibble would be that there are probably other parts of the university more in need of a big infusion of cash than the athletic department and the business school. "</p>
<p>Remember that money in academia is partially fungible: the Ross gift creates budget relief in one location, and may lead to the ability to spend in a seemingly unrelated domain. If capital funds were allocated for Ross the new gift might allow those capital expenditures to be reallocated toward human capital.</p>
<p>Self-correction, had I read the full thread first, I would have seen KronOmega make the same point…apologies for the redudancy.</p>