Carnegie Mellon University says Ken Griffin is donating $3 billion, including $2 billion for a planned campus in Miami’s Wynwood neighborhood.

The Pittsburgh-based university says the donation is the largest single gift to a U.S. university. The proposed 35-acre campus, just north of downtown, would focus on societal challenges and is expected to enroll about 3,500 undergraduate, master’s and doctoral students. Construction is scheduled to begin the year after the announcement.

Griffin founded the investment firm Citadel, which moved to South Florida in 2022. Miami is already home to the University of Miami, Florida International University and Miami Dade College.