Billionaire Ken Griffin just gave $50 million to the University of Miami — his largest gift yet in the Sunshine State
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Tiara White
Mar 6, 2024, 04:33 IST
The Sylvester Comprehensive Cancer Center in MiamiUniversity of Miami
Ken Griffin just gave $50 million to the University of Miami for cancer research.
It's the billionaire founder of Citadel's biggest philanthropic gift to Florida yet.
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The billionaire founder and CEO of Citadel announced Tuesday his biggest gift yet to his new home of Florida.
Ken Griffin gave $50 million to the Sylvester Comprehensive Cancer Center, part of the University of Miami's medical school, to help advance cancer research, according to a press release. The gift is set to result in a new 12-story research facility named after Griffin.
"Until Harvard makes it very clear that they're going to resume their role as educating young American men and women to be leaders, to be problem-solvers, to take on difficult issues, I'm not interested in supporting the institution," Griffin said.
In 2022, Citadel moved its headquarters from Chicago to Miami — because of increasing rates of crime and violence throughout the Midwestern city. Since moving to Miami, Griffin has been making his mark on the Sunshine State, including a slew of charitable gifts and big real-estate purchases.
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He's also touted Miami as a future financial hub, predicting it could overtake New York.
The founder of Citadel, a hedge fund, and Citadel Securities, a trading firm, Griffin is the 35th-richest person in the world with an estimated $38.6 billion, according to Forbes.
The new building, to be named the Kenneth C. Griffin Cancer Research Building, is set to be one of the largest stand-alone buildings for cancer research in Florida, the University of Miami's press release said. It will contribute to creating and finding new therapies and expanding clinical trials. It's set to open in 2025.
"The Ken Griffin name has become synonymous with philanthropic leadership that drives value in the communities in which he operates," Stuart A. Miller, the board chair of the University of Miami Health System, said.
Miller added: "Miami is privileged and fortunate to now call Ken Griffin one of our own."
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