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Posted on 05/07/2025 4:05:02 AM PDT by george76
Billionaire investor Bill Ackman on Tuesday said Harvard University, one of the nation’s oldest and wealthiest, should not be entitled to taxpayer funds when the school wastes money on what he calls “administrative bloat.”
Ackman, who earned undergraduate and business degrees from Harvard more than three decades ago, was speaking hours after the Trump administration said it was freezing future grants to Harvard.
He also criticized the school’s investment policies, saying the Ivy League university is facing a financial crisis and that its $53 billion endowment is “poorly invested.”
...
“They have lost all future grants, their tax exemptions are at risk,” Ackman said on a panel at the Milken Institute Global Conference where 5,000 financiers, educators and scientists gather to discuss critical issues of the day.
“It is all self-induced gross mismanagement and I think that the (Trump) administration is doing precisely the right thing now,” Ackman told the packed room.
...
Ackman has long been at odds with Harvard, criticizing the university for not doing enough to protect students from antisemitism.
...
He also again hit out at the school’s governing board, saying it has become insular and that there is no mechanism to remove members the way there is in corporate America where investors can run board challenges.
“What happens when you have a board that can self-appoint itself, and it becomes insular, and with a $53 billion endowment, they think, okay, we can just do whatever is on our mind.”
(Excerpt) Read more at nypost.com ...
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Amen.
That's not true. It's only been about a year and a half since he decided to start criticizing Harvard.
That’s not true. It’s only been about a year and a half since Ackman turned critical.
Until late 2023, he was a strong supporter of Harvard—as both an alumnus and major donor. His criticism began after the October 7 attacks, when he objected to Harvard’s response to antisemitic statements by student groups.
He called for the university to release the names of the students in question and later demanded the resignations of President Claudine Gay and senior fellow Penny Pritzker.
BTTT
💯.
Ivy League university is facing a financial crisis and that its $53 billion endowment is “poorly invested.”
But it’s Harvard it can’t be true huh Moe.
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