Michigan Receives $100Million Donation
New York City real estate developer Stephen M. Ross gives $100 million to University of Michigan Business School
September 9 2004
The University of Michigan Business School will be renamed the Stephen M. Ross School of Business at the University of Michigan in honor of a $100 million gift from Ross that was announced Thursday. The gift is the largest in U-M history and the largest ever to a US business school. Ross is the founder, chairman and CEO of The Related Companies, a real estate development firm. He graduated from the U-M Business School in 1962 with a degree in accounting. At the press conference to announce the gift, U-M President Mary Sue Coleman called it “an historic moment in the history of the University of Michigan.”
Wow!!! That is some serious cash. Thinking this will go along way towards helping the University reach it’s goal of raising $2.5 billion by December 31, 2008. Prior to this donation, they had already raised $1.281 billion in cash, pledges and bequest. So I guess I better send in my donation as well. Granted it won’t be anywhere near the donation above, but thinking every little bit helps. Particularly since President Sue Coleman indicated that about $400 million of the money raised will go towards student scholarships and fellowships. Knowing how much I myself benefited from these types of scholarships, this is a cause I’m happy to support.