$110 million gift to the University of Michigan comes from billionaire with philanthropic history
Charles T. Munger, the man behind a $110 million gift to the University of Michigan announced at the Board of Regents meeting Thursday, has been behind a number of construction projects at U-M and in California.
According to a New York Times report, before making the largest gift in university history, Munger donated $20 million in 2011 toward the renovation of living spaces at U-M Law School.
In addition to his donations to the University of Michigan, Munger and his wife Nancy donated $43.5 million to Stanford University and have made sizable contributions to schools and the YMCA in Los Angeles, according to the New York Times. The billionaire's fortune has shrunk from a $2.4 billion in March 2008 in large part due to his philanthropic efforts, Forbes reported.
Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at firstname.lastname@example.org. Follow him on twitter @BFreedinA2