Ken Griffin, the billionaire Founder and CEO of asset management company Citadel, has donated $125mn to the University of Chicago’s Department of Economics – the secondly largest donation in the school’s history.
“The University of Chicago has transformed our understanding of economics,” Griffin said, a man who also joined the Universities Board of Trustees back in 2014.
“Over the past century, the faculty and students have challenged the status quo to produce pioneering research and path-breaking ideas, which have been recognized by the 29 Nobel prizes in the field of economics awarded to individuals associated with the University.”
The funds will go towards advancing the department’s studies that hope to make a positive impact on the world of economics and analysis.
“The University of Chicago has a long history of ground-breaking and deeply impactful scholarship and education in the field of economics that continues today,” said President of the University, Robert Zimmer.
“This generous gift will enhance the scope and global impact of faculty research and support new access to the challenging intellectual environment that defines a University of Chicago education.”
The latest gift takes Griffin’s total donations to the school up to $150mn, with it now set to be renamed to the Kenneth C Griffin Department of Economics.