Carnegie Mellon University Miami will offer programs focusing on areas including health, national security, manufacturing and climate.
Courtesy of Griffin Catalyst
This week, Ken Griffin made one of the single most impactful contributions to our community, apart from all the other incredible donations he has made since relocating here. Wynwood will now become home to a state-of-the-art Carnegie Mellon University campus.
For context, Carnegie Mellon is one of our most accomplished academic institutions, a leader in the education of artificial intelligence (AI), human health and national security, to name a few. For Miami, the impact will be immeasurable and turn it into a thought center that will rival America’s most elite collegiate hubs.
Such a gift makes me think, how much has Chicago lost by losing Ken Griffin? Surely, if he was still part of that community, it would be the recipient of his charitable contributions. In short, what Chicago lost is the good that comes from capitalism — a success that ultimately makes its way into the community.
For Miami, Griffin has become more than a philanthropist. He has embedded himself in our community — confronting initiatives that would harm our society, such as the expansion of casino gambling and the legalization of recreational marijuana.
With all the wealth and forward-thinking leadership coming here to Miami, and the academic institutions to match, we need to understand that it necessitates a greater sense of shared responsibility on what to do with it. We must make a concerted effort to handle it better and to not spend it in such a way where we solve one problem only to create another.
An example of this would be affordability. For those outside Florida, our housing prices seemed almost too inexpensive. Fast forward to today, and Miami is being labeled a more expensive place to live than New York. We need to ensure that Miami continues to remain an affordable place for all and understand that everyone plays a part in how Miami, as a community, thrives.
U.S. Rep. Alexandra Ocasio-Cortez once said, “You don’t make a billion dollars. You take a billion dollars.” What she, Sen. Bernie Sanders, and many others believe is that you cannot become a billionaire without taking from others, whether it be money, opportunities, reputation or the like.
Well, do the math, and you’ll find that billionaires have given back far more than they have ever taken. Think of Michael Dell, who recently donated $6.25 billion to the new Trump Accounts to help cover college costs, the millions Jeff Bezos has donated to combat homelessness in Miami or even the incredible transformation of West Palm Beach due to the gifts and investment of Steve Ross. And then there’s Warren Buffett. He’s donated over $72 billion to charitable causes over his career —the largest single philanthropist in history.
The Democratic Socialists of America agenda is simple: malign billionaires and get them out of communities. Once they leave, the soil of that community then has the proper conditions for socialism to thrive. Because of this, Florida has been doing well, Miami in particular, while California, New York and Chicago have seen a huge drain of capital from those states.
Put simply, this is class warfare on a scale not seen in decades, happening right in plain sight. In society, everyone has a role to play, and those we label as “wealthy” are often painted in a dim light that casts them as takers from the community.
Many have built multi-billion-dollar businesses, even created whole industries, that employ and provide for countless Americans. They didn’t get there by doing nothing. They made sacrifices no one would, and then society vilifies them for it. And yet, when they do give back millions, or even billions, to the community, society acts as if it is never enough.
I’m a proud Cuban American. I fled a communist regime and came here unaccompanied with nothing more than the suit I wore the day I left. It’s the most unimaginable sacrifice a mother could make, but it was necessary. My mother knew what a war on capitalism would do to Cuba, and it ultimately did.
We’re all watching the beginning of the same movie, and I already know how this ends. Trust me, it isn’t something you’ll want to see.
Armando Codina is the founder and executive chairman of Codina Partners, a real estate development, management and investment firm based in Coral Gables.