Ken Griffin and Stephen Ross are doubling down on higher education in South Florida in a bid to make the region a leader in business, technology and innovation.
On Sept. 30, Carnegie Mellon University of Pittsburgh announced plans to build a new campus in Miami, with the help of a blockbuster $2 billion donation by Ken Griffin, the CEO of Citadel.
The campus will be located on more than 35 acres in Wynwood, according to a press release by the university. Griffin donated a further $1 billion to CMU's original Pittsburgh campus.
The Miami campus is expected to galvanize business efforts to make South Florida a dominant player in emerging businesses, new technology and major research.
CMU Miami will organize "learning and inquiry around societal challenges
rather than academic majors alone," according to the university, with focuses on health and biological discovery, national security and strategic capabilities, and energy and climate resilience.
The private Carnegie Mellon ranks No. 3 nationally in graduate earnings by academic major in the 2027 U.S. News & World Report Best Colleges rankings. The university also ranks No. 1 in undergraduate computer science and among the top five in 17 undergraduate specialty categories.
Carnegie Mellon's presence is expected to complement Vanderbilt University's planned West Palm Beach campus, which also will include a focus on defense technology, including aerospace and space advancements.
The announcement of the Carnegie Mellon campus comes two years after Vanderbilt University announced it was building a campus in downtown West Palm Beach.
The Nashville-based private university says it plans to break ground in 2027 on a 9-acre campus that will be a “campus in an arboretum,” a lush academic oasis in the fast-developing city center, according to planning documents submitted to the city in July 2026.
Stephen Ross, chairman of the Related Ross real estate firm and a major force in helping bring Vanderbilt to West Palm Beach, donated $50 million toward the campus construction.
Ross, a Palm Beach resident, is owner of the Miami Dolphins football team and West Palm Beach’s dominant developer. Donations also included a $5 million donation from Cody Crowell, a principal with Easton Street Capital in Palm Beach and a Vanderbilt graduate.
Griffin also has roots in Palm Beach County. He graduated from Boca Raton High School and owns the largest estate in Palm Beach.
Griffin's donation comes after he moved his family and the headquarters of Citadel LLC and Citadel Securities to Miami from Chicago in 2022. The move took place two years after Griffin set up temporary offices in Palm Beach during the 2020 COVID 19 pandemic.
Both Griffin and Ross have been promoting South Florida as a business destination through the Florida Council of 100, a statewide group of corporate leaders. In January, Griffin and Ross announced a $10 million donation to a Council of 100 initiative, "Ambition Accelerated," to further advance South Florida to companies weighing a move or expansion to the tri-county area, which includes Palm Beach, Broward and Miami-Dade counties.
In 2023, Ross held preliminary discussions with Griffin over a deal that would have included a minority stake in Ross' Miami Dolphins, The Palm Beach Post reported. The Post reported that Ross saw the potential deal as a way to raise capital that he could then invest in real estate and sports ventures.
Details about Carnegie Mellon University's programs
Carnegie Mellon highlights its business analytics graduate program and its artificial intelligence program, according to its website, which cites the U.S. News & World Report.
The private, internationally-ranked research university features programs in areas ranging from science, technology and business, to public policy, the humanities and the arts, the university's website said.
Undergraduate tuition for first-years starting in fall of 2026 is $69,702, but the total cost of attendance, including factors such as housing, food and course materials is estimated at $93,614 for resident students and at $78,620 for commuter students.
The university says it has 16,582 students, 1,615 faculty members and 127,691 alumni.
When will student s begin attending Carnegie Mellon?
Construction of the Miami campus is expected to begin in 2027, and the current plan would see the first students enrolling in 2028.
Upon completion, the campus would support more than 3,500 undergraduate, master's and PhD students, as well as nearly 300 faculty and over 600 staff members, the university said.
Where will Carnegie Mellon's Miami campus be located?
The university said its Miami campus will be built at 318 NW 23rd St. in Miami's Wynwood neighborhood, according to Refresh Miami.
Where is Carnegie Mellon's main campus?
Carnegie Mellon University's main campus is located in Pittsburgh, Pennsylvania.
Sarah Perkel is a South Florida Connect Reporter for the USA TODAY Network's Florida Connect team. You can get all of Florida’s best content directly in your inbox each weekday day by signing up for the free newsletter, Florida TODAY.
This article originally appeared on Palm Beach Post: With Carnegie Mellon in Miami, two billionaires' vision taking shape
