(AP) A Los Angeles-based investor is giving the University of Michigan the largest gift in the school's history for a graduate student residence.
The building is expected to open in 2015. The project is aimed at boosting interaction and breaking down academic barriers and will likely be a selling point as the university competes for top students.
University officials on Thursday were to approve the $110 million gift from Berkshire Hathaway Inc. Vice Chairman Charles Munger. The gift from the colleague and confidant of billionaire investor Warren Buffett includes $10 million for fellowships to be offered to students from all corners of the Ann Arbor institution.
Munger tells The Associated Press he believes successful innovation requires collaboration across fields. The eight-story building will be centrally located on the Ann Arbor campus.