Billionaire Ken Griffin's $50M Gift Boosts Miami's Cancer Research with New UM Facility

Ken Griffin, CEO of Citadel, has generously donated $50 million to the University of Miami (UM) to support the construction of a cancer research building on the school’s medical campus in Downtown Miami. This substantial contribution aims to accelerate the completion of the 244,000-square-foot facility, initiated by UM's Miller School of Medicine in 2022. Scheduled for completion by 2025, the 12-story building will effectively double the capacity of the school’s cancer research department.

Naming Rights and Griffin's Philanthropic Gesture

In recognition of his generous donation, the University of Miami's Sylvester Comprehensive Cancer Center will be renamed the Kenneth C. Griffin Cancer Research Building. This renaming serves as a tribute to Griffin's significant financial support and commitment to advancing medical research.

Ken Griffin's Background and Relocation

Ken Griffin, with an estimated net worth of $39 billion, relocated his hedge fund Citadel and market maker Citadel Securities from Chicago to Miami two years ago. This move underscores Griffin's interest in and commitment to the South Florida region.

Julia Koch's Recent Donation

Julia Koch, another prominent philanthropist, recently made a substantial donation of $75 million to establish a new medical complex for NYU Langone Health in Downtown West Palm Beach. This eight-story facility, named the Julia Koch Family Ambulatory Care Center, will provide 77,000 square feet of clinical space.

These significant philanthropic gestures from Ken Griffin and Julia Koch underscore the pivotal role of billionaire philanthropy in transforming South Florida's medical research landscape. Their donations contribute to the advancement of cancer research and healthcare infrastructure in the region, promising significant benefits for the community's well-being.