The trend of major gifts to universities and other education organizations in the US continues. The latest example involves that of a real estate tycoon, sports owner and philanthropist.

Billionaire Stephen M Ross intends to give $100 million toward building the Detroit Center for Innovation, a University of Michigan research and education center to be built in Metro Detroit. The donation continues the trend of big gifts in North America to education and related institutions.

“Detroit has always been an incredible place of innovation and opportunity, and the Detroit Center for Innovation will usher the city into a new era of leadership in technology,” Ross is quoted as saying by the Michigan Daily. “This gift is a symbol of progress and momentum in Detroit and I am incredibly proud to advance this transformative project. My time at the University of Michigan was foundational for my life and career, and I hope the students who come here seize the opportunity to make a difference and make an impact here in Detroit and across the country.”

The report said that building work on the new center will start in 2021; the center will serve as many as 1,000 students working towards degrees in areas such as science, technology, education and medicine.

A real estate entrepreneur, Ross is chairman and founder of Related Companies. Ross formed Related in 1972; he is also the owner of the Miami Dolphins. He is chairman of Equinox Holdings and serves on the executive committee, is a trustee of the Lincoln Center and trustee of NewYork-Presbyterian Hospital, the Guggenheim Foundation, and director of the World Resources Institute.

Family Wealth Report regularly covers large philanthropic donations because this throws light on wealth trends more generally. See this article here about how ultra-high net worth individuals are arguably not giving enough. There have been a number of eye-catching stories abound UHNW philanthropy in the US recently, as seen with the $1.8 billion gift by media tycoon and former NYC Mayor Michael Bloomberg (now contending the Democratic Party presidential ticket), and others. The phenomenon of big gifts is not confined to the US, but is also manifest in Asia and Australia, for example. Such gifts also breed the need for advice.