ANN ARBOR, Mich., (WXYZ) - The University of Michigan is set to receive it's largest single donation in school history with a $200 million gift from real estate developer and alumnus Stephen M. Ross.
In a press release Wednesday the university said Ross is donating the money to "transform the student experience at the business school and athletic campus." The Stephen M. Ross School of Business and UM Athletics will each receive $100 million.
"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," said UM President Mary Sue Coleman.
Ross' gift is the single largest donation in UM history. His lifetime giving now stand at more than $303 million.
Ross is chairman and founder of Related Companies, one of the most prominent real estate developers in the world. He is also the owner of the Miami Dolphins.