Citadel CEO and founder Ken Griffin has donated $300 million to Harvard University, his biggest gift to date to his alma mater, bringing his total contributions to $500 million.

In recognition, Harvard has renamed its arts and sciences school the Harvard Kenneth C. Griffin Graduate School of Arts and Sciences.

Earlier gifts from Griffin have included a scholarship in his grandfather's name, money for stem cell research and funds for a Harvard Business School professorship.

"We're going to solve many of the problems the world faces today with intellectual capital and financial resources, and intellectual capital is what Harvard is all about," Griffin said in an interview with Bloomberg.

"There are very serious ethical and philosophical questions that come into play from the revolution we are seeing in the sciences," Griffin said.

"There will be a moment when a self-driving car will have to make a decision, who to injure, or we have to make decisions around the impact of increasing longevity," Griffin continued. "So, having a school with a deep heritage in philosophy and government will help us grapple with modern society."

The 54-year-old billionaire with an estimated net worth of $34.9 billion said he plans to continue to make grants to the Ivy League school as Claudine Gay, dean of the faculty of arts and sciences, becomes president of the university on July 1, succeeding Larry Bacow.

"I am deeply and personally appreciative of the confidence he has placed in us and our mission to do good in the world," Bacow said in a statement.

In total, Griffin has given nearly $2 billion to charities.