$110 million donation will pay for new graduate student housing at University of Michigan

A $110 million gift of securities from investor and philanthropist Charles T. Munger will enable the University of Michigan in Ann Arbor to construct a residence hall where graduate students from multiple disciplines can live and exchange ideas. The proposed building will house more than 600 occupants in a residential-academic arrangement. The university says in a news release that $10 million of the donation is earmarked for fellowships to help create a residential society that encourages scholarship and interaction from many fields of study. The gift is the largest single donation to the University of Michigan in its 196-year history. Munger is an alumnus of the university and vice chairman of Berkshire Hathaway Inc.