Ross Stevens of Stone Ridge Asset Management pulled his $100 million gift to the school
A major donor to the University of Pennsylvania is withdrawing a donation worth roughly $100 million as a protest against the college’s handling of antisemitism on campus and the controversial testimony by UPenn's president on the subject.
Ross Stevens, founder and CEO of Stone Ridge Asset Management, donated to Penn in 2017, a gift that consisted of partnership units in the firm which are now valued at around $100 million to help the university establish a financial innovation center. Attorneys for Stevens sent the university a letter indicating the school violated Stone Ridge’s limited partnership agreement through its failure to adhere to anti-discrimination and anti-harassment rules.
It also took issue with President Liz Magill’s testimony before the House Education and Workforce Committee this week in which she said that whether antisemitic chants and calls for the genocide of Jewish people are prohibited speech on campus are "context-dependent" and would violate Penn’s rules against bullying and harassment if it was "directed," "pervasive" and "severe."
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A major donor to the University of Pennsylvania is withdrawing a donation worth roughly $100 million as a protest against the college’s handling of antisemitism on campus and the controversial testimony by UPenn's president on the subject.
Ross Stevens, founder and CEO of Stone Ridge Asset Management, donated to Penn in 2017, a gift that consisted of partnership units in the firm which are now valued at around $100 million to help the university establish a financial innovation center. Attorneys for Stevens sent the university a letter indicating the school violated Stone Ridge’s limited partnership agreement through its failure to adhere to anti-discrimination and anti-harassment rules.
It also took issue with President Liz Magill’s testimony before the House Education and Workforce Committee this week in which she said that whether antisemitic chants and calls for the genocide of Jewish people are prohibited speech on campus are "context-dependent" and would violate Penn’s rules against bullying and harassment if it was "directed," "pervasive" and "severe."
UPenn donor withdraws $100M donation after president's congressional testimony on antisemitism
A major donor to the University of Pennsylvania is moving to withdraw a donation valued at $100 million following President Liz Magill's controversial testimony on campus antisemitism.
