Michigan Gets Another $100 Million From Ross

“Stephen Ross’ vision has always been about the ability of facilities to transform the human experience,” said U-M President Mary Sue Coleman in a statement. “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.”

Earlier this year, Ross committed to give half or more of his wealth to charity and signed the Giving Pledge, a long-term, global initiative created by Warren Buffett and Bill and Melinda Gates that aims to inspire deeper engagement in philanthropy and increase charitable giving globally. He said the latest gift to Michigan was made because the university, which granted him a B.A. degree in accounting in 1962, has had a big impact on his life.

“The University of Michigan had a profound impact on my life and I have received enormous satisfaction from being able to give back to the institution that played such a critical role in my success,” he said in a statement announcing the gift. “I am thrilled to be able to make such an impactful contribution and to not only help write the next chapter for the University, but also offer much-needed scholarships to ensure we continue to attract the best and the brightest students and provide them with the financial resources they need.  I am confident that the initiatives we undertake will further transform the business school and athletic facilities and ensure the University Michigan continues to offer a world-class institution for our future leaders. I could not be more proud.”

Ross earned a law degree from Wayne State University and a master of law degree in taxation from New York University. He began his career as a tax attorney at Coopers & Lybrand in Detroit.  He serves on the executive committee and is a trustee of Lincoln Center, is a trustee of New York Presbyterian Hospital and the Guggenheim Foundation and a director of the World Resources Institute and the Jackie Robinson Foundation.

Largest Gifts To Business Schools

Gift School Year Donors
$300 million Chicago (Booth) 2008 David Booth
$200 million Michigan (Ross) 2004 & 2013 Stephen M. Ross
$150 million    Stanford 2011     Robert & Dorothy King
$105 million Stanford 2006 Philip H. Knight
$100 million Columbia 2010 Henry Kravis
$100 million Columbia 2013 Ronald Perelman
$85 million Wisconsin 2007 Alumni Partnership*
$80 million Cornell (Johnson) 2010 David & Patricia Atkinson
$60 million Virginia (Darden) 1999 Frank Batten Sr.
$60 million Northeastern 2012 Richard D’Amore,Alan McKim
$60 million Thunderbird 2004 Samuel & Rita Garvin
$50 million Harvard 2010 Ratan Tata
$50 million Georgia Tech 2012 Ernest Scheller Jr.
$50 million Arizona State (Carey) 2003 William Polk Carey
$50 million Texas (McCombs) 2000 Red McCombs
$50 million Arkansas (Walton) 1996 The Walton Family
$50 million Yale 2010 Ned Evans
$45 million Drexel (LeBow) 2010 Bennett LeBow
$40 million Harvard 2012 James Chao
$40 million Loyola (Quinlan) 2012 Michael Quinlan
$40 million North Carolina State (Poole) 2010 Lonnie Poole
$40 million Houston (Bauer) 2000 Charles T. Bauer
$40 million Pennsylvania (Wharton) 1998 Jon M. Huntsman
$35 million Notre Dame (Mendoza) 2000 Thomas & Kathy Mendoza
$35 million USC (Marshall) 1997 Gordon Marshall

* A group of more than then alumni got together to pool their resources for this gift to the business school at the University of Wisconsin