Real estate developer and Miami Dolphins Owner Stephen Ross donated $50 million to his alma matter, the University of Michigan, the university announced on Wednesday.
- Group that includes Stephen Ross investing $27.5 million in new housing for Detroit neighborhoods
- Detroit businessmen Stephen Ross and Dan Gilbert donate $10 million to Wayne State University Law School
Now, Ross has donated $378 million to the university in his lifetime.
According to the unviersity, this donation will help support career development programs for students, innovative action-based learning experiences like student-run investment funds and new business ventures, and resources for attracting and developing junior faculty.
His previous donations have given his name to the university's business school and helped it become one of the best in the world.
"It gives me enormous joy to continue to give back to the University of Michigan, an institution that had such a profound impact on my life," Ross said in a release. "I am extremely proud of the physical transformation that we have achieved at the business school, creating modern, new facilities and places students and facility and future leaders can thrive."
University President Mark Schlissel said Ross has helped transform the learning environment at U-M.
The donation will create:
- $16 million student success initiative that helps students develop career and professional skills, build a robust network of advsiers and career advocates and more.
- $16 million Stephen M. Ross Faculty Support Fund for faculty who develop academic innovations that advance the school's commitment to action-based learning and more.
- $8 million Stephen M. Ross Student Investment Fund for academic programs and learning experiences
The other $10 million will go to completing and maintaining the Ross School campus.
HIs largest gift came in 2013 when he donated $200 million, $100 million of which was used for the Stephen M. Ross Athletic Campus and $100 million to further develop a state-of-the-art collaborative learning environment for the Ross School.
He started his college education at U-M with a degree in Business Administration in 1962, a law degree from Wayne State University and a Master of Law degree in taxation from New York University.