After the appalling behavior of their presidents at Tuesday's Congressional hearing on antisemitism, Harvard, the University of Pennsylvania, and MIT have faced tremendous (and richly deserved) backlash.
And it continues today:
BREAKING: Ross Stevens, CEO of Stone Ridge Asset Management, sent a letter to @Penn telling them that he is withdrawing a $100M donation over President Liz Magill's anti-semitism comments before Congress.
— Greg Price (@greg_price11) December 7, 2023
via @axios https://t.co/mjqc4X1yJm pic.twitter.com/hX2QO2G97x
A University of Pennsylvania donor is withdrawing a gift worth around $100 million to protest the school's response to antisemitism on campus.
The big picture: The final straw for Ross Stevens, founder and CEO of Stone Ridge Asset Management, was Tuesday's widely criticized congressional testimony by Penn president Liz Magill.
Details: The gift from Stevens, a Penn undergrad alum, was given in December 2017 to help establish a center for innovation in finance.
- It was in the form of limited partnership units in Stone Ridge, with the current value estimated at around $100 million.
- Stevens, in a letter from his lawyers to Penn, alleges that the school has violated the terms of the limited partnership agreement, including its anti-discrimination and anti-harassment policies.
- Referring to Penn, Stevens writes: "Its permissive approach to hate speech caling for violence against Jews and laissez faire attitude toward harassment and discrimination against Jewish students would violate any policies of rules that prohibit harassment and discrimination based on religion, including those of Stone Ridge."
One of the biggest roles of a university president is fundraising. Magill has now cost U Penn another $100 million (they lost millions after donor John Huntsman closed his checkbook several weeks ago).
Took him long enough
— Max (@MaxNordau) December 7, 2023
Better late than never.
If you read it, it is a clear violation of their policies. Perhaps Liz was trying to protect the university in some way. Instead she went on record violating one of their bigger donor’s business terms.
— JewMa Ultra Redacted (@NotYourJewishMa) December 7, 2023
Magill, and her counterparts at Harvard and MIT are focused on one thing: excusing antisemitism on campus. Likely in violation of their own university codes regarding bullying and harassment. They didn't care about things like donor terms, or even civil rights investigations.
I don't think she's smirking anymore.
— Yehuda Teitelbaum (@chalavyishmael) December 7, 2023
We doubt it.
[stares in soon to be unemployed] https://t.co/m3sJ9zLUJ7 pic.twitter.com/VxtSdoxl9H
— G (@stevensongs) December 7, 2023
We can only hope. They all deserve to be fired.
Been a lot of FAFO dividends paying out over the last couple of months.
— LoLNothingMatters (@DastDn) December 7, 2023
Not nearly enough, but a lot. https://t.co/N9oYJmSeKW
A lot. And we love to see it.
Starve them.
— ☉rthonormalist🧭✡️ (@orthonormalist) December 7, 2023
Do not relent. https://t.co/laqqyKCefT
Do not relent. Make it hurt.
Play bigoted games, suffer the consequences. https://t.co/rBaWxRmZbi
— BDW (@BryanDeanWright) December 7, 2023
Yes. Huge consequences.
Yeah, the UPenn president was definitely groveling for millions and millions of reasons: https://t.co/QbzH243nyB
— Doug Powers (@ThePowersThatBe) December 7, 2023
Hundreds of millions of reasons.
In other words, is she worth $100m to Penn?
— Alec Mazo (@Alec_Mazo) December 7, 2023
"remedy..... if, and when, there is a new University President in place." https://t.co/xHXabummnh
While U Penn seems to have not disclosed her salary, the previous president -- Amy Gutmann -- was paid $23 million in her last year. So no, Magill is probably not worth $100 million.
The only way to combat horrendous decisions made by universities https://t.co/XIORqGc3nr
— Frank Rizzo (@duccimane15) December 7, 2023
Yes it is.
https://t.co/FNRZb80TVX pic.twitter.com/Tjfm0JDuC3
— Boaty McBoatface (@srqstockpicker) December 7, 2023
FAFO, indeed.
Your feel-wonderful story of the day https://t.co/GHn1Fgybx0
— Toast, lil’ yacht bunny (@Toastcat4618) December 7, 2023
We feel pretty darned wonderful about it.
This is going to be interesting to see if Penn sues to challenge this https://t.co/knBq9DpZCA
— 🇮🇱NicoSexual 🇮🇱 (@Nico_Sexual) December 7, 2023
Oh, if they do, discovery would be a lot of fun.
https://t.co/Gfm2OFiJsW pic.twitter.com/Qm0Er3rWSp
— the original space cowboy (@Space_Cowboy369) December 7, 2023
MORE. Please, more.
Happy Hanukkah, UPenn https://t.co/Pul7yXqU5r
— Mara ✡️ (@SoulofSowell) December 7, 2023
We're sure Magill is going to have an awful weekend. That she, and the presidents of Harvard and MIT weren't ceremoniously frog-marched from campus after their behavior on Tuesday says just how far gone our universities are.
We hope that pulling donations to the tune of hundreds of millions of dollars will be what finally gets them shown the door.
And that their replacements are left-wing bigots.
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