Businessman Gives $110-Million for Student Housing and Fellowships

Charles Munger donated to the University of Michigan to help avoid what he calls the balkanization of academe

Charles Munger was an undergraduate at the University of Michigan before World War II interrupted his studies. Charles Munger was an undergraduate at the University of Michigan before World War II interrupted his studies.

May 5, 2013 | Read Time: 1 minute

How much: $110-million

Who got it: University of Michigan

Who gave it: Charles Munger, vice chair of Berkshire Hathaway, an investment firm

Where the money will go: $10-million will go to graduate fellowships and the rest to a residential facility for graduate students from a wide array of academic disciplines.

Donor’s connection to the institution: Mr. Munger, 89, studied mathematics at the university in the 1940s, before military service interrupted his studies. He later earned a law degree at Harvard.

Donor’s previous giving: He provided $3-million in 2007 for infrastructure improvements to a pair of the university’s law school buildings, and $20-million for renovations to its Lawyers Club housing complex, which was renamed for him.

How the donor chose his cause: Mr. Munger says he wanted a way to break down the isolation graduate students experience, and what he calls the “Balkanization of academia into little departments, which results in a lot of blindness.” It’s unusual for donors and administrators to focus on dormitories, Mr. Munger says, but it shouldn’t be. “If you’re an elite place and you’ve got 10 applicants for every spot, it’s perfectly natural to think, Why in the hell do we have to do anything more for the students? They’re begging to get in,” he says. “That’s a huge mistake. I don’t think you abuse your best customers.”