Billionaire Kenneth Griffin has announced the suspension of his generous donations to Harvard University, citing concerns over the handling of anti-Semitic incidents and a broader leadership crisis.
Griffin, who began his trading career from his Harvard dorm room and later became the world’s most profitable hedge fund manager, made the announcement at the Managed Funds Association conference in Miami.
The decision comes in the wake of controversies surrounding the university’s handling of anti-Semitic incidents on campus and the leadership crisis involving its former president, Claudine Gay. Griffin had previously donated $300 million to Harvard’s Faculty of Arts and Sciences in April 2023, bringing his total contributions to over half a billion dollars.
However, criticism mounted against Gay’s management of pro-Palestinian demonstrations, particularly following the October 7 attack and subsequent war. Gay faced further scrutiny for her testimony before Congress, where she did not outright condemn calls for the genocide of Jews. These controversies led to her resignation earlier this month.
While leaving the door open for a potential resumption of financial support, Griffin emphasized the need for changes in the way the university pursues its mission. He questioned whether elite universities in the United States would return to their roots of educating future leaders or continue to navigate issues like microaggressions and Diversity, Equity, and Inclusion (DEI) programs without a clear purpose.
Griffin, the head of Citadel managing $56 billion, posted a record annual gain of $16 billion in 2022, making it the most successful hedge fund in history according to LCH Investments. Harvard, with an endowment of $50.7 billion, holds the title of the richest university in the United States
