{"version": "1.0", "type": "rich", "title": "Ivy League endowments under fire", "author_name": "kontextmaschine", "author_url": "https://kontextmaschine.com", "provider_name": "kontextmaschine", "provider_url": "https://kontextmaschine.com", "url": "https://kontextmaschine.com/post/165073150513/", "html": "Ivy League endowments under fire\n

antoine-roquentin:

\n

In 2015, a New York Times op-ed acidly observed that Yale University had spent $480 million that year on fees for hedge fund managers to grow the university\u2019s already massive endowment\u2014while spending just $170 million on tuition assistance and fellowships for its students\u2026.

\n

In addition to Yale, whose endowment was a whopping $25.4 billion in 2016, the holders of these outsized endowments include Harvard ($34.5 billion), Stanford ($22.4 billion), Princeton ($22.2 billion), and MIT ($13.2 billion), as well as top-tier state schools such as the University of Michigan ($9.7 billion) and the University of Virginia ($5.9 billion). In 2016, the fifty wealthiest universities in the country owned $331 billion in endowment wealth\u2014a figure equal to roughly triple the size of California\u2019s state budget last year and ten times that of Pennsylvania.

\n
\n

Henry did it, Japan did it
\nEven Jacobins in France did it
\nLet\u2019s do it! Let\u2019s suppress the monasteries!

"}