Harvard to rename school of arts and sciences after Republican donor following $300m donation

Citadel Securities founder is believed to be the 35th richest person in the world

Kenneth Griffin (AFP via Getty Images)

Harvard University will rename its graduate school after a Republican party donor following a $300m donation, it has announced.

The Kenneth C Griffin Graduate School of Arts and Sciences will be named after the alumnus and hedge fund executive Kenneth Griffin.

While also trying to create a philanthropic legacy for the institute, Mr Griffin has donated more than $500m in gifts throughout the span of four decades but this announcement has garnered controversy.

As well as being the founder and chief executive of Citadel, which is valued at $59bn, he is notable for being a Republican mega-donor and for his investments in gun and ammunition manufacturers. In 2022, Mr Griffin gave nearly $60m to Republican candidates for federal positions, according to Politico.

His investments also reportedly include shares in Smith & Wesson, Sturm and Ruger, ammunition maker Olin Corp, Vista Outdoor and Ammo Inc, the value of which has increased to $200m according to a Guardian review of SEC filings.

Mr Griffin has also donated to Florida governor Ron DeSantis, who is teasing a presidential run in 2024. The Florida governor has been criticised for his positions on education and gay rights. The HB 1557 bill, otherwise known as the “Don’t Say Gay” bill, prohibits Florida teachers in kindergarten to third grade from discussing sexuality and gender identity. He has also targeted Critical Race Theory, which is not taught formally in k-12 schools, and overseen a ban that prevents Florida’s public high schools from teaching a new advanced placement course, African American studies. A spokesperson for Citadel, asked to comment on Mr Griffin’s support for Mr DeSantis and his policies, told The Guardian: “Ken respects and employs people of all backgrounds.”

Kenneth Griffin is the 35th richest person in the world, according to the Bloomberg billionaires index and will be just the fourth individual at Harvard to have a school named after themselves in exchange for a donation, according to the Harvard Crimson student newspaper.

“Ken’s exceptional generosity and steadfast devotion enable excellence and opportunity at Harvard,” said Harvard’s president, Larry Bacow, in a statement. “I am deeply and personally appreciative of the confidence he has placed in us – and in our mission – to do good in the world.”

Mr Griffin’s gift to Harvard will go to the faculty of arts and sciences (FAS), which is also home to the undergraduate college and PhD programmes.

This is also in addition to Mr Griffin making a $150m donation to the university in 2014, which was to primarily fund financial aid. This donation established a cohort of 200 Griffin scholarship recipients and matched funds through a leadership challenge fund so other alumni or friends to the institute could contribute to the financial aid programme.