a $100 million unrestricted pledge. The University of Illinois at Urbana Champaign’s business school will receive $150 million.
In 2014, Griffin’s donation went to Harvard College, the university’s undergraduate school that was established in 1636, to expand the financial-aid program. His new donation to the University of Chicago brings his total giving to the school to nearly $150 million.
Success Story
Griffin’s gift through his charitable fund will go into its endowment. The fund reached a record $7.8 billion as of June, aided by gifts and investment returns. The fund had an investment gain of 11.4 percent for the year ended in June, lower than the average school fund. The fund gained an annualized 6.6 percent and 5.4 percent, for the past five and 10 years, respectively.
Griffin said some of his partners at Citadel have economics degrees or MBAs from the university.
“The success story at Citadel has been written by a number of people who have backgrounds from the University of Chicago,” he said.
This article was provided by Bloomberg News.