Columbia University is joining the ranks of Harvard University and the University of Pennsylvania. The school has become the latest to lose funding from a billionaire following its comments or stance on events in the Middle East.
Leon Cooperman this week went live on Fox on Wednesday to declare that he would be halted his funding for the school due to anti-Israel sentiment, saying “These kids at the colleges have s— for brains.”
“We have one reliable ally in the Middle East. That’s Israel. We only have one democracy in the Middle East. That’s Israel. And we have one economy tolerant of different people, gays, lesbians, etc. That’s Israel. So they have no idea what these young kids are doing,” he added, “to praise what Hamas did is disgraceful. Disgusting.”
Cooperman, who has served on the Board of Oversees at Columbia Business School for over two decades, has donated in the neighbourhood of $50 million to the school based on his recent commentary. Donations include a $25 million donation in 2011 that supported the construction of a new facility for the Graduate School of Business. Future donations are now said to be suspended, with Cooperman electing to give those funds elsewhere instead, although specifics were not provided.
The decision follows Marc Rowan, CEO of Apollo Global Management, calling for the resignation of the University of Pennsylvania’s president and the chairman of the board of trustees while suggesting other alumni cut donations to just $1.00. The Huntsman family also revealed it would be revoking their donations to the school, as did David Magerman, a hedge fund veteran.
Over at Harvard, the Wexner Foundation terminated a three decade long partnership over the failure to take a strong stance against the issue, while Idan Ofer, one of Israel’s wealthiest individuals,m stepped down from the board of the Kennedy School of Government. Bill Ackman meanwhile called for the release of names of students who had signed a letter attributing blame for the conflict solely to Israel.
Information for this story was found via Fox and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
