University of Michigan Starts $4 Billion Capital CampaignJanet Lorin
The University of Michigan aims to raise $4 billion in a capital campaign, which would represent the largest effort in history by a public U.S. university.
The school in Ann Arbor, with more than 43,000 students, already raised $1.7 billion toward the goal during a two-year “silent phase,” according to a statement today. Priorities for the funds include student support so that every student accepted can afford to attend, engaged learning and “bold ideas.”
Real estate developer Stephen Ross, who has donated more than $313 million to the university including a $200 million gift in September, is chairman of the campaign. Michigan has also received donations or pledges this year of $110 million from Charles Munger, vice chairman of Berkshire Hathaway Inc.; $50 million from Helen Zell, wife of billionaire investor Sam Zell; and $50 million from Tomay Inc. President Richard Rogel and his wife Susan.
Among private schools, Harvard University began a $6.5 billion capital campaign in September, the largest in the history of higher education, public or private.