UPenn Loses $100 Million Donation Following Disastrous Hearing on Campus Anti-Semitism
“Mr. Stevens and Stone Ridge are appalled by the University’s stance on antisemitism on campus”
The congressional hearing on anti-Semitism was awful and there will be other repercussions besides this.
The Hill reports:
Penn loses $100 million donation after antisemitism hearing
The University of Pennsylvania (Penn) lost a major $100 million donation on Thursday amid the fallout from Penn President Liz Magill’s comments at a recent House hearing on campus antisemitism.
In a letter to Penn Senior Vice President Wendy White, lawyers for Ross Stevens, the founder and CEO of Stone Ridge Asset Management, said Stevens would be withdrawing his gift, now valued at about $100 million, that was expected to fund the Stevens Center for Innovation in Finance.
Stevens’s lawyers allege Penn violated the terms of Stone Ridge’s limited partner agreement with the school.
“Mr. Stevens and Stone Ridge are appalled by the University’s stance on antisemitism on campus,” Stevens’s lawyers wrote. “Its permissive approach to hate speech calling for violence against Jews and laissez faire attitude toward harassment and discrimination against Jewish students would violate any policies or rules that prohibit harassment and discrimination based on religion, including those of Stone Ridge.”
The letter noted Stevens and Stone Ridge would be open to discussing the matter further and would give the school the chance to “remedy” its alleged violations of the agreement.
“Until then, there can be no meaningful discussion about remedying the University’s ongoing failure to honor its obligations,” attorneys Neil Barr and Dana M. Seshens wrote.
Stevens is a graduate of Penn and also has a child who recently graduated from the school. Another one of his children is a junior at the university.
“Absent a change in leadership and values at Penn in the very near future, I plan to rescind Penn’s Stone Ridge shares to prevent any further reputational and other damage to Stone Ridge as a result of our relationship with Penn and Liz Magill,” Stevens wrote in a note to his staff on Thursday. “I love Penn and it is important to me, but our firm’s principles are more important.”
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Comments
Good job, Mr. Stevens. You did the right thing. Loss of pledged monetary gifts is the only thing leftists understand.
Intersectional feminist dingbat loses $100M, parsing words about ‘context’.
smh
I’m sure there are some Middle East benefactors who will be happy to make up the loss.
MIT just got anonymous donation from bank in qatar to make up the difference?
Where did you see this or are you just being glib? It was announced that the MIT Board issued a statement backing their SJW Affirmative Action President
“The letter noted Stevens and Stone Ridge would be open to discussing the matter further and would give the school the chance to “remedy” its alleged violations of the agreement.”
No … no second chances … pull the money and be done with it.
It was posted elsewhere that the Board of UPenn had an emergency meeting Thursday and is expected to ask for this twits resignation. Odd how a second $100 Million donation pulled will clarify the mind. I guess all that Chinese and Arab money pouring in won’t cover it.
need more of this ….