Successful real estate developer and Miami Dolphins owner Stephen M. Ross is to give $20 million unrestricted donations to his alma mater New York University Law School. The administration of the Law School can use the donation as it deems necessary.
The school said that the donation is in the form of a bequest and can only be transferred to them in the event of Mr. Ross' death. New York University officials also said that as of the moment, the donation given by Mr. Ross is the single largest donation to the elite Greenwich Village law school.
According to the Law Blog of the Wall Street Journal, Mr. Ross, 75, is the chairman and founder of Related Cos., one of the nation's largest urban developers. He begun building the company in 1972. It emerged as the top syndicator of tax credits in the 1980s and then later became known for its mega commercial projects, such as the Time Warner Center and the Hudson Yards project in Manhattan.
Mr. Ross earned his Masters of Law Degree in Taxation from New York University on 1966. He described his experience as a student in the university as "best year of my life and probably the most influential" during his talk as a New York University panel last year.
When asked about the donation, Mr. Ross said that "When you have the opportunity as a benefactor to have a real impact on society, you want to focus on institutions that can have a transformative effect on people's lives. I think NYU Law is that kind of place."
"Steve has credited his experience at NYU Law as being critical to his success, and it is enormously gratifying that he is giving back this generously, so that others may similarly benefit," said Trevor Morrison, NYU Law's dean, in a statement.
The generous gift to NYU comes two years after Mr. Ross donated $200 million to the University of Michigan, where he earned a bachelor of business administration degree.
