September 18, 2011 | Read Time: 1 minute
How much: $265-million unrestricted pledge
Who gave it: William S. Dietrich II, former chairman of Dietrich Industries, a steel company founded by his father, Kenneth, which was sold to Worthington Industries in 1996
Who got it: Carnegie Mellon University, in Pittsburgh. It will receive the money upon Mr.Dietrich’s death.
What the gift will support: The university has not yet decided.
How the gift came about: Jared L. Cohon, the university’s president, said he learned at the beginning of the year that Mr. Dietrich, a longtime trustee of the university, was preparing to make a significant donation, but the magnitude of the gift surprised him.
About the donor: Besides having pursued a career in business, Mr. Dietrich holds advanced degrees in political science and wrote a book on economic decline in America.”
Impact of the gift: “If you think about one word to characterize the mood of the country right now—generally and also with regard to higher education—it would probably be pessimism, and this is just the opposite,” Mr. Cohon says. “This is the ultimate optimistic gesture.”
