Ken Griffin Gifts $50 Million to University of Miami Cancer Center

Original Article:

Source: Link

Ken Griffin just gave $50 million to the University of Miami for cancer research. It's the billionaire founder of Citadel's biggest philanthropic gift to Florida yet. It comes one month after he paused giving to Harvard, his alma mater. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement The billionaire founder and CEO of Citadel announced Tuesday his biggest gift yet to his new home of Florida. Ken Griffin gave $50 million to the Sylvester Comprehensive Cancer Center, part of the University of Miami's medical school, to help advance cancer research, according to a press release. The gift is set to result in a new 12-story research facility named after Griffin. This announcement came almost a month after Griffin said he would no longer donate to Harvard because of how it dealt with antisemitism on campus — last year he donated over $300 million to the Faculty of Arts and Sciences, The Harvard Crimson reported. "Until Harvard makes it very clear that they're going to resume their role as educating young American men and women to be leaders, to be problem-solvers, to take on difficult issues, I'm not interested in supporting the institution," Griffin said. Advertisement A rendering of the Kenneth C. Griffin Cancer Research Building. University of Miami In 2022, Citadel moved its headquarters from Chicago to Miami — because of increasing rates of crime and violence throughout the Midwestern city. Since moving to Miami, Griffin has been making his mark on the Sunshine State, including a slew of charitable gifts and big real-estate purchases. He's also touted Miami as a future financial hub, predicting it could overtake New York. The founder of Citadel, a hedge fund, and Citadel Securities, a trading firm, Griffin is the 35th-richest person in the world with an estimated $38.6 billion, according to Forbes. The new building, to be named the Kenneth C. Griffin Cancer Research Building, is set to be one of the largest stand-alone buildings for cancer research in Florida, the University of Miami's press release said. It will contribute to creating and finding new therapies and expanding clinical trials. It's set to open in 2025. Advertisement The Sylvester Comprehensive Cancer Center in Miami University of Miami "The Ken Griffin name has become synonymous with philanthropic leadership that drives value in the communities in which he operates," Stuart A. Miller, the board chair of the University of Miami Health System, said. Miller added: "Miami is privileged and fortunate to now call Ken Griffin one of our own."