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Carnegie Mellon to Get $265 Million Gift From Steel Executive

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William S. Dietrich II
Dietrich, 73, the former chairman of Pittsburgh-based steel manufacturer Dietrich Industries Inc., plans to give Carnegie Mellon University $265 million at the time of his death. Source: Carnegie Mellon via Bloomberg

Sept. 7 (Bloomberg) -- Carnegie Mellon University will receive a $265 million donation from retired steel executive William S. Dietrich II, the largest gift in the school’s history.

The gift, in the form of a fund, will become operational upon Dietrich’s death, Pittsburgh-based Carnegie Mellon said today in a statement. Its college of humanities and social sciences will be renamed for his mother, Marianna Brown Dietrich.

Dietrich, 73, is the former chairman of Dietrich Industries Inc., a steel manufacturer in Pittsburgh, which was sold to Worthington Industries in Columbus, Ohio in 1996. The source of the fund is the Dietrich Charitable Trusts, whose assets were generated primarily by that sale.

Carnegie Mellon “is one of a handful of universities in the world that has the potential to become a truly global institution,” Dietrich, a trustee, said in the statement. He called the school “a great investment.”

Carnegie Mellon was established in 1900 by industrialist and philanthropist Andrew Carnegie. It also has campuses in California’s Silicon Valley and in Qatar.

To contact the reporter on this story: Janet Lorin in New York jlorin@bloomberg.net

To contact the editor responsible for this story: Jonathan Kaufman at jkaufman17@bloomberg.net

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