Harvard University’s Endowment Soars to Over $53 Billion
“Harvard reported a 7.3% gain during the fiscal year that ended in June 2020, just months after markets tumbled amid the coronavirus outbreak”
With Harvard sitting on this kind of money, you have to wonder why they still charge tuition.
Harvard, world’s wealthiest university, sees endowment soar to $53.2 bln
Harvard University, already the wealthiest in the world, said on Thursday that its endowment made a 34% gain and swelled to $53.2 billion in the fiscal year that ended in June.
Investments in private and public markets helped fuel the increase which university officials called an “outstanding” year. A year ago, Harvard reported a 7.3% gain during the fiscal year that ended in June 2020, just months after markets tumbled amid the coronavirus outbreak.
But the returns trail those of other prominent endowments that invest in private equity, venture capital and hedge funds the way Harvard does.
N.P. Narvekar, the university’s chief investment officer and chief executive of Harvard Management Company (HMC), said Harvard’s gains would have been much higher had the school invested in riskier assets. He also cautioned that the endowment won’t produce these types of returns every year.
Donations tax deductible
to the full extent allowed by law.
Tax the rich!
Jut imagine all the student loans that could be paid off with these massive endowments.
“This is America—we’re happy to invest in opportunities for everyone. But we’re saying that if you make it really, really, really big, bigger than 50 million dollars, then pitch in two cents so everyone else can have a chance.” – Elizabeth Warren
All the good that could do but is wasted on leftist/marxist ideology which does no one any good at all.
I am absolutely certain they will use some of that money to provide full-paid scholarships to deserving ghetto youth who are good kids and are starting to turn their lives around…
/who am I kidding?
Yeah, but given the inflation which produced it, they are likely seeing fewer “real” dollars at this point. Liberals really hate it when you bring up Biden’s inflation having already wiped out any benefit that they might have seen from a stimulus check.
Good. Then cut them off the Federal teat and that means ZERO federal student loans, research money, grants or any other money of any kind including state (ANY STATE) funding.
The performance did not compare well to the other Ivy endowments:
https://www.thecrimson.com/article/2021/10/15/endowment-returns-soar-2021/ (the readers’ comments are remarkable)