Billionaire Charles Munger Gives University Of Michigan $110 Million
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Billionaire Charles Munger Gives University Of Michigan $110 Million

Billionaire Charles Munger Gives University Of Michigan $110 Million
A philanthropist and an investor based in Los Angeles has decided to give $110 million gift of stock to University of Michigan. According to the University sources this would be the largest donation in the history of the University. The philanthropist Charles Munger contribution has been approved by Board of Regents. Charles Munger is currently the Vice Chairman of Berkshire Hathaway. Interestingly, Charles Munger is considered to be the right hand man of Warren Buffet, the billionaire investor and Buffet takes suggestions from Charles Munger on all important issues. According to the University authorities, the amount given by Charles Munger will be used to develop a graduate student resident hall and is expected to be opened by mid 2015. The same would be used for promoting interactions among students and promoting cross class consultations among students irrespective of their academic background. The $10 million fellowship would be used for students of Ann Arbor based University’s different schools and colleges. These fellows would be those from among the 600 residents of an eight story building that would be developed from this grant. Munger while interacting with Associated Press pointed out that the amount will be spend on constructing a huge residential hall. Such kind of constructions from charity money is unheard of in academic circles and this experiment would be unique in its sense, as per Munger. Munger has also funded a graduate student housing complex in Stanford University and wishes to rekindle the same spirit in his Michigan Alumnus. This idea came from an old desire of Munger that remained unfulfilled. His desire of getting the graduate students together and giving them a common platform for interaction came from his own law days at the Harvard University. According to Munger, no such initiative existed in his time and he wished to see such an idea gaining ground. Munger says that he is inspired by the words of Alfred North Whitehead who spoke much about fatal differences that existed among various academic disciplines. The Michigan residence hall apartments would be luxurious in the true sense. The hall would be having individual study and bed rooms along with attached bathrooms. An exclusive shared kitchen, common dining and living area would be the other specialities of this residence hall. Gathering room for fellows will also be a part of this resident building and the total expenditure for construction purpose will amount to $185 million. The University has always been receiving genuine grants from funders. Recently only Helen Zell, the wife of billionaire real estate mogul Sam Zell had given $50 million grant for supporting the graduate writing program. Much larger grants as given by Munger have also been given to other universities but the purpose of Charles Munger for giving the grant is unique enough and no such grant for construction of a residential hall has been given in recent history. Munger is also known to donate millions to Michigan’s law schools and Lawyer’s club housing complex. Munger believes that today’s youth need to be enabled  and by connecting them, he might be taking a right step in this direction.        
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