Stephen Ross, the founder and chairman of real estate development firm Related Companies and owner of the Miami Dolphins, made a historic $200 million donation to the Ann Arbor-based University of Michigan—the largest single gift the university has received since it was established in 1817.
The $200 million gift will be split in two between the university’s athletic department and the Business School, which was named for Ross in 2004 when the real estate tycoon donated $100 million to the school. Ross, an alumnus, has also agreed to serve as the chair of the University’s Victors for Michigan Campaign that will start on November 8.
According to a press statement, the donation is meant to improve the academic and athletic experience for the nearly 6,000 students who are enrolled at the U-M Stephen M. Ross School of Business and the university’s 900-plus student athletes.
The $100 million donation for the School of Business will be used for:
• New spaces for students to study, collaborate and connect with each other, faculty and potential employers.
• A state-of-the-art career services space and recruiting center that will connect students and companies.
• New admission spaces and career services for students.
• Practice-oriented research space for faculty staff, students and corporate partners.
• Advanced technology and innovative design for classrooms to support and improve in-person and virtual collaboration.
• Scholarships for Ross students.
The remaining funds going to the Stephen M. Ross Athletic Campus will be spent on:
• Providing student-athletes on the university’s 31 teams with all the necessary resources.
• Creating new athletic facilities that will foster community, identity and tradition for the teams.
• Develop separate facilities to help student-athletes develop skills for success after athletics.
• Build athletic facilities for local, state, national and international competitions.
Image courtesy of University of Michigan