The
Howard Hughes Medical Institute (
HHMI) is a
United States non-profit medical research organization based in
Chevy Chase, Maryland. It was founded by the
American businessman
Howard Hughes in 1953. It is one of the largest private funding organizations for
biological and medical research in the
United States. HHMI spends about $1 million per HHMI Investigator per year, which amounts to annual investment in biomedical research of about $825 million. The institute has an endowment of $19
billion, making it the second-wealthiest
philanthropic organization in the United States and the second best endowed medical research foundation in the world. HHMI is the former owner of the
Hughes Aircraft Company - an
American aerospace firm which was divested to various firms over time.