The University of Michigan in Ann Arbor has announced a $50 million gift from alumnus and real estate developer Stephen M. Ross in support of initiatives at the Stephen M. Ross School of Business, bringing his total lifetime giving to the university to $378 million.
Part of the university's Victors for Michigan Campaign, which Ross chairs, the gift includes $16 million to launch a Student Success initiative that will help students develop career and professional skills, build a robust network of advisors and career advocates, personalize their learning journey, and access internships and career opportunities with leading companies around the globe; $16 million to establish the Stephen M. Ross Faculty Support Fund for faculty who develop academic innovations that advance the school's commitment to action-based learning, interdisciplinary education and leadership development; and $8 million to create the Stephen M. Ross Student Investment Fund for academic programs and learning experiences in asset and investment management, including venture capital, private equity, commercial real estate, and publicly traded securities. The investment fund will enable the business school to continue developing an innovative portfolio of student-run investment funds and build academic programs that accelerate student learning and career placement. The remaining $10 million of the gift will go toward completing and maintaining the Ross School campus.
In 2013, Ross gave U-M $100 million in support of the Stephen M. Ross athletic campus for use by 900-plus student athletes in all sports and $100 million to further develop a collaborative learning environment on the Ross School campus. In 2004, he gave $100 million to update the facilities and endow operations at the business school, which was renamed in his honor. In 2003, Ross gave $5 million to create the Stephen M. Ross Academic Center, which provides academic support services and study space on the athletic campus.
Ross, a Giving Pledge signatory, is chair and founder of Related Companies, a prominent private real estate developer. He earned his Bachelor of Business Administration degree in accounting from the U-M Business School in 1962, a law degree from Wayne State University, and a Master of Law degree in taxation from New York University.
"Stephen M. Ross continues to make a tremendous impact on the University of Michigan," said U-M president Mark Schlissel. "His generosity and outstanding leadership have transformed the learning environment for our students. With this latest gift, he further advances our mission, pushing us past our ambitious goal of $1 billion for student support in the Victors for Michigan campaign. I am especially grateful to Steve for, once again, demonstrating his confidence in the University of Michigan and ensuring a bright future for our students and faculty."