Ken Griffin, one of many largest donors to Harvard College, stated he received’t assist the college financially until it makes vital modifications and accused elite US faculties of manufacturing “whiny snowflakes” as a substitute of future leaders.
“I’m not interested in supporting the institution,” Griffin stated of Harvard on the MFA Community convention in Miami on Tuesday. The billionaire stated the college should clarify that it’s going to “resume its role educating young American men and women to be leaders and problem solvers.”
Griffin, an alumnus who donated $300 million to Harvard final yr, joins a wave of rich donors who’ve halted presents due to issues over the college’s dealing with of antisemitism on campus since Hamas’ Oct. 7 assault on Israel, along with broader issues over the affect of range initiatives and left-wing bias on the college.
Harvard remains to be struggling to resolve tensions even after President Claudine Homosexual resigned this month amid an onslaught of criticism over her response to antisemitism, in addition to accusations of plagiarism in her scholarship.
The college has additionally come underneath intense scrutiny from lawmakers, college students and alumni. Two congressional committees have begun investigations, with one among them criticizing Harvard final week for offering “woefully inadequate” responses to its questions. The US Schooling Division is conducting its personal probe of discrimination together with antisemitism and Islamophobia at Harvard and different faculties.
Harvard didn’t instantly reply to a request for remark about Griffin’s remarks.
The founding father of hedge fund Citadel, whose web price is valued at $36.8 billion in accordance with the Bloomberg Billionaires Index, stated he was involved after watching Homosexual’s Dec. 5 testimony in Congress, the place she declined to sentence requires genocide in opposition to Jews as a violation of college insurance policies.
Griffin stated he instructed members of Harvard Corp., the college’s prime governing board, that he received’t assist the college until it makes modifications. The council is led by Penny Pritzker, a former US commerce secretary.
“Where are we going with education in elite schools in America?” Griffin stated, questioning whether or not Harvard can re-prioritize. “Or are they going to maintain being lost in the wilderness of microaggressions and a DEI agenda that seems to have no real end game.”
After his reward to Harvard final yr, the Graduate College of Arts and Sciences was renamed in his honor. Griffin, who graduated from Harvard School in 1989, additionally gave $150 million to the college in 2014, primarily to assist monetary help.
His choice to tug again now will deepen the college’s monetary ache. Harvard alumnus Len Blavatnik, whose household basis has given not less than $270 million to Harvard, paused donations final month. Donors akin to billionaires Idan Ofer and Leslie Wexner had earlier halted assist, and US Senator Mitt Romney accused the college of ignoring the security of Jewish college students.
Harvard relies on presents from donors massive and small to pay for bills and add to its $51 billion endowment. The fund, which was constructed on donations which were invested, has returned an annualized 8.2% prior to now decade.
Throughout its newest fiscal yr, 37% of Harvard’s income got here from from endowment distributions, its largest supply of earnings. One other 8% got here from current-use presents.
