Harvard's Donor Rebellion: Billionaires Halt Funding Amid Controversies
Harvard University is facing a growing donor rebellion as billionaire Len Blavatnik joins the list of disaffected donors pausing donations due to the university's handling of antisemitism. The backlash is tarnishing Harvard's brand and alumni network, potentially impacting its finances at a time when investment returns are lagging and Congress is considering cutting federal support. The university's financial aid program, a cornerstone of its push for diversity, may be at risk if donations decline significantly. Harvard also faces scrutiny over plagiarism allegations against its president and potential pressure from the U.S. government. The university relies heavily on endowment distributions and current-use gifts for revenue, making fundraising crucial for its operations.