Building upon his previous substantial donations to the University of Michigan, Stephen M. Ross has donated to his alma mater another $200 million, to be split equally between the athletic department and the business school that already bears his name. It's the largest individual donation in school history.
The university announced the real state developer's latest gift in a press conference today and in an accompanying story published to the University of Michigan News Service. Ross, who also owns the National Football League's Miami Dolphins, donated the money to help construct "contemporary spaces" for students and athletes, as well as to provide scholarships for business school students.
In the News Service article, U-M president Mary Sue Coleman is quoted as saying, "Stephen Ross' vision has always been about the ability of facilities to transform the human experience. He understands the power of well-conceived spaces, and his generosity will benefit generations of Michigan students, faculty and coaches. This historic gift is not only an investment in the University of Michigan, but also in our state. Steve Ross believes deeply in our collective future as national and global leaders." Ross has now donated $313 million overall to Michigan and moves up to third place among donors to a U.S. business school.