Former steel executive and philanthropist, William Dietrich II, announced he was donating a $265 million gift to Carnegie Mellon University in Pittsburgh, Pa. The only catch: The school can’t access the money until Dietrich dies.

This donation is the largest donation for the school and the 10th largest donation from an individual to a private university, according to a Sept. 7 Carnegie Mellon news release.

The gift will help fund future academic projects in both undergraduate and graduate programs including artistic creation, research, global initiatives and, for what school officials call the ‘fusion of left-brain and right-brain thinking,’ connecting technology and the arts, according to the news release.

‘Serving as a trustee of Carnegie Mellon convinced me that Carnegie Mellon is not only a great university, but that it is an important driver of the future success of this region and its citizens,’ Dietrich, 73, said in the news release. ‘I have seen first-hand how Carnegie Mellon has maintained the same ‘can-do’ spirit and multi-disciplinary approach to problem-solving that was part of its founding.’

Carnegie Mellon was founded in 1900 by Andrew Carnegie, first as a technical school. It has since become known for its world-class programs in computer science, robotics and the arts, according to a Huffington Post article from Sept. 7.

‘It is one of a handful of universities in the world that has the potential to become a truly global institution,’ Dietrich said in the release.

Dietrich was born in Pittsburgh, Pa., on May 13, 1938. He graduated from Princeton University in 1960 and joined his father at Dietrich Industries, a small steel warehouse and distribution business. Dietrich later turned it into the nation’s largest manufacturer of light metal framing, according to a Carnegie Mellon biography online.

Dietrich, who is on Carnegie Mellon’s Board of Trustees, has served on other boards, including the Carnegie Museum of Art, the Pittsburgh Ballet Theatre and the University of Pittsburgh. He also created Dietrich Charitable Trust, which is anticipated to fund The Dietrich Foundation, where the money will come from once Dietrich passes, according to the news release.

In recognition of the donation, Carnegie Mellon’s College of Humanities and Social Sciences will be renamed the Marianna Brown Dietrich College of Humanities and Social Sciences after Dietrich’s mother, who inspired and supported Dietrich throughout his life, according to the news release.

Salem Hilal, a freshman computer science major at Carnegie Mellon, said the students were informed of festivities because of the announcement happening on campus like the painting of ‘the Fence,’ a school landmark.

‘Additionally, they threw a concert at the end of the night, for free, on one of our quads,’ he said. ‘It was pretty cool.’

In addition to the concert, a video on Carnegie Mellon’s website showed a luncheon, free gifts and fireworks at the end of the evening.

Hilal said the money could go toward plenty of projects that could potentially better the rest of the world.

‘I’m not going to lie, there is a lot of good, interesting work going on at CMU,’ he said. ‘There are plenty of places for the money to find a home.’

Hilal said waiting for Dietrich to pass away before using the money was a good idea. He said it would ensure that Carnegie Mellon continues in the direction that Dietrich intended when he announced the donation.

He said: ‘It isn’t our money, and I’m sure CMU is willing to receive the money in whatever condition it’s in, particularly when the stipulation is as simple as waiting for a little.’

mjberner@syr.edu

Published on September 28, 2011 at 12:00 pm

Contact Maddy: mjberner@syr.edu