Carnegie Mellon Wins $265M Gift Steel magnate William Dietrich's donation largest in years By Mark Russell, Newser Staff Posted Sep 7, 2011 4:40 AM CDT 2 comments Comments This undated photo provided by Carnegie Mellon University shows William Dietrich, who just pledged $265 million to the school. (AP Photo/Carnegie Mellon University) (Newser) – Carnegie Mellon University just scored a big boost, as former steel magnate William Dietrich pledged $265 million to the Pittsburgh-based school, reports AP. With charitable giving down due to the economic downturn, Dietrich's gift is considered one of the largest to a private university in recent years. "It is one of a handful of universities in the world that has the potential to become a truly global institution," Dietrich said. "All of this makes Carnegie Mellon a great investment."