The University of Pennsylvania is about to lose $100,000,000 from a single donor after its president wormed her way out of a question regarding calls for genocide against Jews on her campus.
The walls appear to be caving in on the University of Pennsylvania's president, Liz Magill, who faces scathing criticism over her performance at a House hearing earlier this week.
Prominent donor Ross Stevens threatened to claw back a $100 million donation. The university's board of trustees held an emergency meeting Thursday. And the powerful Wharton Board of Advisors that leads the university's prominent business school called for a leadership change at the university.
Magill remained president after the hastily arranged board gathering concluded Thursday, a source familiar with the proceedings told CNN. But Magill faced a rebellion from Wharton's Board of Advisors, and a growing coalition of donors, politicians and business leaders who denounced her testimony.
Here is the full letter that Ross Stevens sent the panicked university:
Mr. Stevens and Stone Ridge are appalled by the University's stance on antisemitism on campus. 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. President Magill's December 6, 2023 post on X admitted as much, when she belatedly acknowledged-only after her Congressional testimony went viral and demands for her termination amplified--that calls for genocide of the Jewish people constitute harassment and discrimination. In light of the foregoing, Stone Ridge has reason to believe that the University's actions (or lack thereof constitute "Limited Partner Cause" under Section 10. 12 of the LP Agreement, which gives Stone Ridge the ability, in its sole discretion, to retire the University's Units.
AGAIN, this is ONE donor.
How many others are pulling endowments out of Harvard, Penn, and MIT as we speak?
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