Major Donor to CMU, Pledges 125 Million to University Of Pittsburgh

Pitt fans shouldn't feel too jealous, of the huge 265 million dollar donation CMU recently got, since the same local steel executive just promised 125 million to Pitt.

The 73-year-old Dietrich said in a statement that he made the pledge for a number of reasons.

"As a graduate who personally benefited from my own studies at Pitt, I want to ensure that the university can continue to provide educational opportunities of the highest quality to its undergraduate and graduate students," he said.

Carnegie Mellon Recieves One Of The Largest College Donations Ever of $265 Million

CMU has truly marched into the big leagues of world class schools on so many levels, however it has lagged badly in one area--private donations.

To put this in context, Harvard University has an endowment of pretty close to $100 Billion. CMU's endowment is not much more than a billion. CMU is not Harvard, but it's not exactly chopped liver and has educated tons of very successful folks.

Hopefully, this is changing.

A philanthropist and former steel executive, William S. Dietrich II, will be making one of the largest single gifts to an American University of $265 million!

From the Post Gazette.

"It will provide to the university something it has had so little of throughout its history -- certainly during my time here: Discretionary funds that can be directed toward whatever the university thinks is the most important," he said.

At a university that Mr. Cohon said is associated with science, arts and business education, the gift also represents a commitment to another area: the humanities.

"Bill has always loved history and now he is making history with this wonderful gift," Mr. Cohon said. "Bill understands the special character of Carnegie Mellon with the unique ability of our faculty to work collaboratively at the intersections of science, technology, art, humanities, business and policy.