EAST LANSING — Michigan State University received its largest donation in the university’s history Dec. 5, with a $401 million commitment from Greg and Dawn Williams.
Most of the donation, $390 million, is directed to MSU athletics, making it one of the largest single commitments in college athletics history, according to MSU.
The couple donated $290 million toward the university’s FOR SPARTA: The Capital Initiative for MSU Athletics, a $1 billion fundraising campaign, and another $100 million will be earmarked for Spartan Ventures. Spartan Ventures is a nonprofit, tax exempt organization formed by MSU that will be the revenue and development arm of MSU Athletics in the Name, Image and Likeness era of college athletics.
The remaining $11 million will be directed toward academic and extracurricular activities, including the MSU Burgess Institute for Entrepreneurship and Innovation, the Risk Management and Financial Insurance Program in the Eli Broad College of Business, the Spartan Marching Band and Pep Bands, and the Sparty Mascot Program, according to university officials.
The donation is more than 10 times the university’s previous largest single donation, made in 2021, according to MSU spokesperson Amber McCann. And for comparison, it’s 25% larger than the $300 million given to Kansas earlier this year by David Booth, founder of a global investment firm that manages $853 billion in assets, according to University of Kansas officials.
Booth’s donation was believed to be the largest ever to any collegiate athletic program at the time.
Not familiar with the Williamses?
Who is Greg Williams?
Greg Williams is a Lansing native who now is the chairman and CEO of Acrisure, the global Fintech company he co-founded in 2005. Neither he nor his wife attended Michigan State, MSU basketball coach Tom Izzo said on Friday, Dec. 5, but he did grow up cheering for the university’s teams.
“We live here,” Greg Williams said. “We didn’t go to school here, but we live here. We have a belief that if you’re going to be involved with something, be involved.”
Headquartered in Grand Rapids, Acrisure brings in $5 billion in revenue annually, offering payroll, payment processing, cyber security, mortgages, real estate services and more. Williams helped grow Acrisure from $38 million in revenue initially to more than $3.8 billion in less than a decade.
Prior to his work at Acrisure, Williams served as the vice president for Michigan National Corporation, a $19 million bank holding company, and also served as an investor and board adviser to multiple companies, according to his Acrisure biography.
Acrisure has now grown its footprint from three states in 2013 to having a presence in each state in the U.S. and 24 countries. The footprint grew through approximately 1,000 acquisitions.
Williams family has donated to MSU previously
The $401 million is just the most recent contribution the Williamses have made for the university.
In 2021, Greg and Dawn Williams gave a $10 million gift to support the Tom Izzo Football Building, which was an expansion to the original football facilities, including a grand entrance, improvements to the football auditorium, new player lockers, informal meeting spaces, recovery modalities and a dining and nutrition area, school officials shared at the time of the commitment.
Greg and Dawn Williams are listed on the Leadership Circle Honor Roll as well, donating more than $20,000 to the university between July 1, 2024 and June 30, 2025.
Overall, the Williamses have donated more than $25 million previously to MSU, the university said.
The Williams join another couple, Ben and Barb Maibach, in serving as co-chairs for the Michigan State University’s Uncommon Will. Far Better World.” campaign, a $4 billion fundraising effort meant to run through 2032. Most recently, the university announced that $1 billion of that effort is focused on athletics, through its own campaign, “FOR SPARTA: The Capital Initiative for MSU Athletics”.
Williamses have a history of philanthropy
While he’s lived in Michigan his whole life, Greg Williams grew up a fan of the Pittsburgh Steelers. In 2022, he bought the naming rights to Heinz Field, instead making the Steelers’ home Acrisure Stadium. Reports say the naming rights cost $150 million over 10 years.
“Partnering with the Steelers is the opportunity of a lifetime and a tremendous honor,” Williams said in a statement when the naming rights were bought. “Through Acrisure Stadium, we will increase awareness of the extraordinary advantage Acrisure brings our clients while conveying our strong sense of community.”
Greg Williams was instrumental in Acrisure’s $30 million pledge to name and anchor the Acrisure Amphitheater, a 12,000-seat venue on the Grand Rapids riverfront.
Acrisure’s donations also include $15 million for the Acrisure Center for Innovation in Children’s Health at Helen DeVos Children’s Hospital and $7.5 million for the Heart Institute at the UPMC Children’s Hospital of Pittsburgh.
How does the donation compare inside and outside MSU?
Previously, the largest single donation made to MSU athletics came from former Spartan basketball player and United Wholesale Mortgage CEO Mat Ishbia, who donated $32 million. He made the donation in 2021, and has continued supporting the university’s athletics department since. About $20 million of the donation went to the expansion of the Skandalaris Football Center, and the Men’s Basketball Excellence Fund and Spartan For Life Fund received $2 million each. The remaining money was used to create the MSU Athletics Excellence Fund.
His brother, Justin Ishbia, along with his wife, Kristen Ishbia, contributed $10 million to Michigan State athletics in September 2024. Justin Ishbia is the founder and managing partner of Shore Capital Partners, A majority of the money, $8.5 million went to support the basketball and baseball programs, while the remaining funds were used for Name, Image and Likeness payments.
In March 2024, Joan Secchia made a $10 million commitment to the university’s varsity tennis teams. Peter and Joan Secchia were both Michigan State alumni who routinely supported the university. Peter died in 2020, and Joan’s philanthropy has continued.
The Williamses’ donation surpassed what was originally believed to be the largest single donation to be given to a collegiate athletic department, surpassing David Booth’s $300 million gift to University of Kansas. Booth founded Dimensional Fund Advisors.
The University of Illinois’ athletic department received its largest gift in September, totaling $100 million from Larry Gies, the founder and CEO of Madison Industries. In 2017, he and his wife donated $150 million to name the school’s College of Business.
How far can $290 million go?
Within the $401 million donation from the Williamses, $290 million is going to the FOR SPARTA campaign, intended to elevate facilities and improve the experience for student-athletes and fans alike.
But how far can $290 million go?
The Breslin Student Events Center opened in 1989, costing an estimated $43 million, according to the MSU facilities page. Adjusted for inflation, $290 million would be enough money to build 2 1/2 Breslin Centers today.
Spartan Stadium first opened in 1923, named “College Field.” The then-14,000 capacity venue was built for around $160,000, which translates to around $3.03 million when adjusted for inflation, according to in2013dollars.com. When adding in the adjusted costs for the $64 million 2005 addition, the donation could fund more than 2 1/2 Spartan Stadiums as well.
For comparison, however, $290 million would only get you about a third of the way to what’s needed to build Northwestern University’s new Ryan Field. The new stadium is bringing a $862 million bill, paid for by Pat Ryan Jr., his family and their company Ryan Sports Development.
The Eli and Edyth Broad Art Center opened in 2012 after an estimated $45 million was used to build the architecturally unique building, featuring nearly no 90-degree angles. Today, the Williams’ gift would support building more four and half of the art museums.
Jenison Field House opened in 1940 and was originally built for around $1.1 million, according to an archive post from the archeology program, translating to more than $25.45 million today. The $290 million could fund more than 11 Jenison Field Houses.
– Contact Karly Graham at kgraham@lsj.com. Follow her on X at @KarlyGrahamJrn.
This article originally appeared on Lansing State Journal: Greg and Dawn Williams donated $401 million to MSU. Who are the Williamses?
Reporting by Karly Graham, Lansing State Journal / Lansing State Journal
USA TODAY Network via Reuters Connect
