$110 million gift to the University of Michigan comes from billionaire with philanthropic history

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Charles T. Munger, the man behind a $110 million gift to the University of Michigan announced at the Board of Regents meeting Thursday, has been behind a number of construction projects at U-M and in California.

According to a New York Times report, before making the largest gift in university history, Munger donated $20 million in 2011 toward the renovation of living spaces at U-M Law School.

Forbes estimates that the 89-year-old Munger, vice chairman of Berkshire Hathaway and longtime business partner of Warren Buffett, is worth approximately $1.1 billion, making him the 408th wealthiest person in the United States. His most recent donation to the U-M includes $10 million earmarked for student fellowships.

In addition to his donations to the University of Michigan, Munger and his wife Nancy donated $43.5 million to Stanford University and have made sizable contributions to schools and the YMCA in Los Angeles, according to the New York Times. The billionaire's fortune has shrunk from a $2.4 billion in March 2008 in large part due to his philanthropic efforts, Forbes reported.

• Read the full report from the New York Times
• See Charles Munger's profile at Forbes.com

Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2