$2.6 billion observatory gets major gift from philanthropists Phillip (Terry) and Susan Ragon whose philanthropy surpassed $500 million to date

MIT has joined the international effort to build the Giant Magellan Telescope in Chile, one of the most ambitious astronomy projects of the century, thanks to a transformative gift from philanthropists Phillip (Terry) and Susan Ragon.

Their donation secured MIT’s entry into the consortium at a pivotal moment, just as the $2.6 billion observatory—already 40 percent complete—moved into its Final Design Phase with the National Science Foundation, unlocking the path to future federal funding.

When it begins operations in the 2030s, the Giant Magellan Telescope will use its 25.4-meter aperture to gather five times more light than today’s largest telescopes and capture images up to 200 times sharper, enabling breakthroughs from probing distant exoplanets for signs of life to mapping the earliest galaxies and observing black holes with unprecedented precision.

The Ragons’ support continues a philanthropic trajectory that has reshaped American science and medicine.

Their gifts, exceeding half a billion dollars, have established and endowed the Ragon Institute of MGH, MIT, and Harvard, created a major vaccine research center at Massachusetts General Hospital, and funded the new Phillip and Susan Ragon Building at Mass General Brigham.

Their private foundation has disbursed hundreds of millions more annually to advance medical research, education, and global community causes, with philanthropy reaching as far as schools and religious institutions in Colombia.

As Giving Pledge signatories, they are committed to donating the majority of their wealth, last estimated at nearly $4 billion, with a focus on accelerating cures for major diseases and strengthening international scientific collaboration.

For MIT, their latest gift opens access to what is expected to be the most powerful optical telescope ever built, ensuring U.S. leadership in astronomy while training a new generation of researchers.

As MIT President Sally Kornbluth noted, the Ragons have an instinct for identifying transformative opportunities at the frontiers of science.

Their philanthropy has already rewritten the story of immunology and vaccines; now it is helping humanity look deeper into the universe than ever before.