University of Michigan Receives $50M Gift from Stephen Ross
Stephen M. Ross has donated a total of $378 million to U-M.
Photo Courtesy: University of Michigan
Real estate developer and alumnus Stephen Ross today announced his latest donation to the University of Michigan in Ann Arbor. Ross’ gift of $50 million brings his lifetime giving total to $378 million. The latest gift will support career development programs for students, action-based learning experiences, and resources for attracting and developing junior faculty.
Ross continues to be the single largest donor to U-M and also chairs the Victor’s for Michigan Campaign, which began in fall 2013. The campaign has raised more than $4 billion and Ross’ donation puts the campaign past its $1 billion goal for student support.
“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,” says Ross. “I am extremely proud of the physical transformation we have achieved at the business school, creating modern, new facilities and places students and facility and future leaders can thrive.
“It has become a world-class center of innovation and a magnet for attracting the best and the brightest students and faculty, and these new initiatives will even further enhance those efforts.”
Ross’ latest gift creates:
- A $16-million student success initiative to help students develop career and professional skills, build relationships with advisers and career advocates, personalize their learning journey, and access internships and career opportunities with leading companies worldwide.
- A $16-million Stephen M. Ross Faculty Support Fund for faculty who develop academic innovations that advance the school's commitment to action-based learning, interdisciplinary education and leadership development. The fund also will support expanded mentoring and coaching for junior faculty, prestigious junior faculty professorships, and additional research support.
- An $8-million Stephen M. Ross Student Investment Fund for academic programs and learning experiences in asset and investment management, including venture capital, private equity, commercial real estate and publicly traded securities.
The remaining $10 million will be used to complete and maintain the Ross School campus.
In 2003, Ross gave a $5 million lead gift to create the Stephen M. Ross Academic Center, which provides academic support service and study space on the athletic campus. Additional past donations include the football stadium expansion project, scholarship support for student athletes, and the Henry Pearce Endowed Scholarship in the College of Literature, Science, and Arts.
Ross, a nephew of the late industrialist Max Fisher, is chairman and founder of Related Cos., a global private real estate investment firm best known for the development of Time Warner Center in New York City and the 28-acre Hudson Yards development on Manhattan’s west side. The New York-based company is also one of the largest owners of affordable housing nationally. Ross also owns the Miami Dolphins.