{"id":10032,"date":"2023-11-06T04:14:45","date_gmt":"2023-11-06T04:14:45","guid":{"rendered":"https:\/\/infundpros.com\/business\/bill-ackman-says-harvard-could-face-funding-consequences-if-it-fails-to-tackle-antisemitism\/"},"modified":"2023-11-06T04:14:46","modified_gmt":"2023-11-06T04:14:46","slug":"bill-ackman-says-harvard-could-face-funding-consequences-if-it-fails-to-tackle-antisemitism","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10032","title":{"rendered":"Bill Ackman says Harvard could face funding consequences if it fails to tackle antisemitism"},"content":{"rendered":"
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\n Billionaire hedge fund CEO Bill Ackman has called on Harvard University to take steps to tackle a rise in \u201cblatant antisemitism\u201d and \u201canti-Israel attacks\u201d on campus, in what he described <\/strong>as a \u201cdire\u201d situation.\n <\/p>\n

\n Ackman, who received his undergraduate degree and MBA from Harvard, added that the failure to take action would put \u201cimportant sources of Harvard\u2019s revenues\u201d at risk.\n <\/p>\n

\n Ackman said in an open letter<\/a> to the university\u2019s president, Claudine Gay, posted to X, formerly known as Twitter, on Saturday that Jewish and pro-Israel students have felt unsafe on campus since the October 7 surprise attacks on Israel and subsequent Israel-Hamas war.\n <\/p>\n

\n Ackman, who met with a group of more than 200 Harvard students and faculty last week, said the university\u2019s administration is not doing enough to protect them.\n <\/p>\n

\n \u201cJewish students are being bullied, physically intimidated, spat on, and in several widely-disseminated videos of one such incident, physically assaulted,\u201d he wrote, referring to a video that shows a clash at an on-campus \u201cstop the genocide in Gaza\u201d demonstration.\n <\/p>\n

\n Harvard Business School Dean Srikant Datar said in a statement that the confrontation was \u201ctroubling\u201d and left \u201cmany of our students shaken.\u201d\n <\/p>\n

\n \u201cReports have been filed with (the Harvard University Police Department) and the FBI, the facts are being evaluated, and it will be some time before we learn the results of an investigation,\u201d Datar wrote.\n <\/p>\n

\n But in his letter, Ackman said further action was necessary. The students involved in the incident, he said, should face immediate suspension regardless of the pending investigation.\n <\/p>\n

\n \u201cHarvard student disciplinary actions should not be outsourced to the police department,\u201d he wrote.\n <\/p>\n

\n Ackman added that students, who chanted \u201cintifada\u201d and what he called \u201celiminationist\u201d statements towards Israel during protests in support of Palestine, should also be subject to disciplinary action.\n <\/p>\n

\n Harvard\u2019s Slack chats, where some students have allegedly been posting antisemitic statements and images, should be closely monitored and those who post such things should be disciplined, he said.\n <\/p>\n

\n When <\/strong>contacted, <\/strong>Harvard directed CNN to earlier statements <\/strong>from Gay and Harvard\u2019s Executive Vice President Meredith Weenick about community conduct.\n <\/p>\n

\n In a previous statement, Gay said she had convened a group of advisors to come up with a plan to combat antisemitism on campus.\n <\/p>\n

\n \u201cAs we grapple with this resurgence of bigotry, I want to make one thing absolutely clear: Antisemitism has no place at Harvard,\u201d Gay said on October 27 in a speech at Harvard Hillel. \u201cFor years, this university has done too little to confront its continuing presence. No longer.\u201d\n <\/p>\n

\n Tensions at Harvard\u2019s campus began shortly after the attacks on October 7 when a coalition of student groups released an anti-Israel statement. That letter blamed solely Israel for the deadly attacks by Hamas, although a spokesperson for the group later wrote in a statement that the group \u201cstaunchly opposes violence against civilians \u2014 Palestinian, Israeli, or other.\u201d\n <\/p>\n

\n The letter set off a firestorm of criticism, doxxing of students and prompted some student groups to withdraw their endorsements of the letter. (Some students said they had not seen the statement until after it was released.)\n <\/p>\n

\n Ackman and others suggested there should be employment consequences for students who had signed the letter.\n <\/p>\n

\n Last week, a group including some of the nation\u2019s most powerful law firms warned America\u2019s elite universities that if they did not crack down on antisemitism on campus, they would face recruitment problems. Elite law firms often recruit directly from top law schools.\n <\/p>\n

\n In his letter, Ackman acknowledged the success of that message and suggested that Harvard administrators warn students of the potential consequences.\n <\/p>\n

\n \u201cBecause Harvard students are notoriously focused on their job and career prospects post-graduation, disciplinary actions by the administration for failure to meet the University\u2019s standards for appropriate conduct that become part of a student\u2019s permanent record should serve as an effective deterrent to overt antisemitic acts on campus,\u201d he wrote.\n <\/p>\n

\n \u201cNo law firm, corporation or graduate program will hire or admit an antisemitic or racist student,\u201d he added.\n <\/p>\n

\n The donor backlash at Harvard so far has included a nonprofit founded by billionaire retail mogul Leslie Wexner and his wife Abigail. The Wexner Foundation said it\u2019s breaking off ties with Harvard University, alleging the school has been \u201ctiptoeing\u201d over Hamas\u2019 attacks.\n <\/p>\n

\n \u201cWe are stunned and sickened by the dismal failure of Harvard\u2019s leadership to take a clear and unequivocal stand against the barbaric murders of innocent Israeli civilians,\u201d the Wexner Foundation\u2019s leaders said.\n <\/p>\n

\n Ackman, who founded Pershing Square Capital Management in 2003, wrote in his letter: \u201cHarvard has failed in recent weeks to meet its Title VI obligations which threatens a major source of the University\u2019s funding.\u201d\n <\/p>\n

\n \u201cTitle VI of the Civil Rights Act requires universities to provide all students, including students who are or are perceived to be Jewish, a school environment free from discrimination. The consequences for a university\u2019s failure to meet the requirements of Title VI include the cancellation of federal funding,\u201d he said.\n <\/p>\n

\n \u201cWhen coupled with numerous Jewish and non-Jewish alumni that have publicly and privately shared these same concerns, important sources of Harvard\u2019s revenues are at risk,\u201d he added.\n <\/p>\n

\n Lawrence Summers, a former president of Harvard and treasury secretary in the Clinton administration, has denounced the strategy of donors withholding financial contributions as a means to influence universities\u2019 stances on issues.\n <\/p>\n

\n \u201cI believe the adjustments from universities should come from their conscience and conversations within their communities, not in response to financial pressure,\u201d Summers told CNN last month.\n <\/p>\n

\n Tensions have risen across American college campuses as student groups clash around the Israel-Hamas war and antisemitic actions surge.\n <\/p>\n

\n There has been a 400% increase in <\/strong>antisemitic incidents (which include assault, harassment and vandalism) since October 7, according to the Anti-Defamation League. At least 54 such incidents have been reported on campuses.\n <\/p>\n

\n Ackman said in his letter that Harvard\u2019s lack of response to such events has \u201cemboldened this antisemitic subset of the community to escalate their antisemitic actions.\u201d\n <\/p>\n

\n \u201cAs Harvard\u2019s leader, your words and actions are followed closely,\u201d he wrote. \u201cAs a result, the steps you take to address antisemitism at Harvard will be recognized around the world, and can contribute greatly as an example to other institutions seeking to eliminate antisemitism in all of its forms.\u201d\n <\/p>\n<\/p><\/div>\n