Charles Munger, vice chairman at Warren Buffett's Berkshire Hathaway Inc., has pledged $110 million of securities to the University of Michigan as part of an effort to build a graduate residence that will house students from multiple disciplines.
The gift is the largest single donation in the school's 196-year history, the university said today in a statement on its website.
Munger, 89, studied mathematics at the university in the 1940s and has previously contributed $20 million for renovations at a housing complex named in his honor. The latest pledge, which was reported earlier today by the Associated Press, includes $10 million for fellowships to encourage interaction among different fields of study.
“This project envisions an approach that makes graduate study less isolated,” university President Mary Sue Coleman said in the statement. “Charlie Munger is passionate about improving graduate student housing, and believes that educating one's self, in the right setting, is very powerful.”