Previous article: Stephen M. Ross gives University of Michigan record $200M Fundraising campaigns aren't built in a day. University of Michigan unveiled a $200 million gift from New York real estate tycoon Stephen M. Ross early Wednesday morning; and while it took only a few hours for the higher education world to learn of the gift, it took college officials years to work with Ross and secure the contribution. That's in part because Ross' gift is not only intended to provide funding for scholarships and new and upgraded buildings at the Stephen M.