Hedge fund CEO gives $3bn to Carnegie Mellon University in historic donation

Unprecedented university donation from Citadel CEO Ken Griffin will go toward building a new Miami campus

Carnegie Mellon University will receive an unprecedented $3bn donation from billionaire investor Ken Griffin, making it the largest single donation in the history of US education.

Griffin, 57, is the founder and CEO of Citadel, described as the most profitable hedge fund in history. The money is going toward a new Miami campus as well as big investments at the university's longtime home in Pittsburgh.